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Journalize Sayers entries to record receipt of payment

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Reference no: EM132740210

Problem - Sales-related transactions - Sayers Co. sold merchandise on account to a customer for $80,000 terms 2/10, n/30. The cost of the goods sold was $58,000. Journalize Sayers' entries to record

(a) the sale,

(b) the receipt of payment within the discount period, and

(c) the receipt of payment beyond the discount period of 10 days.

Reference no: EM132740210

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