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Prepare the related journal entries for Lindley

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Reference no: EM132882012

Problem - Lindley Enterprises sells hand-woven rugs. Paige Corporation is a regular customer of Lindley. On June 30, Paige purchased 500 rugs from Lindley for $400,000 on credit. On August 15, Paige paid Lindley in full on its $400,000 balance. Prepare the related journal entries for Lindley.

Reference no: EM132882012

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