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Prepare the journal entry SallyCo should record to reflect

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Question - SallyCo sold 1,000 widgets to JaneCo for $100 each FOB shipping point on July 1st. After receiving the goods JaneCo's quality assurance team found 35 units that were scratched. On July 5th SallyCo agreed to a reduced sale price to $55 for the 35 damaged units. Prepare the journal entry SallyCo should record to reflect the credit given to JaneCo related to the damaged units.

Reference no: EM132515533

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