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Prepare the journal entry to record the sale

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Question - On January 10, 2010, Gonzalez Co. sold merchandise on account to Ernst for $7,576, terms n/30. On February 9 Ernst gave Gonzalez Co. a 10% promissory note in settlement of the accounts receivable.

Prepare the journal entry to record the sale and the settlement of the accounts receivable.

Reference no: EM131773005

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