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Journalize SPA Co and Boyd Cos entries for the payment

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Reference no: EM132680173

Problem - Transactions for buyer and seller

SPA Co. sold merchandise to Boyd Co. on account, $25,000, terms FOB shipping point,2/10, n/30. The cost of the merchandise sold is $16,000. SPA Co. paid freight of $675 and later received the amount due within the discount period. Journalize SPA Co.'s and Boyd Co.'s entries for the payment of the amount due.

Reference no: EM132680173

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