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Prepare the journal entries and ledger accounts

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Question - On 10 December 2019 Sandra's bakery business sold goods on credit to Magee Cafe Ltd for $9,500. The terms of the sale were that a 5% discount is allowed if payment is received within 30 days. On 16 December 2019 Magee Cafe Lid returned $1,000 worth of the goods. On 23 December 2019 Magee Cafe Ltd paid their account by cheque net of the discount allowed. Prepare the journal entries and ledger accounts of Sandra's bakery business to record these transactions.

Reference no: EM133101084

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