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Prepare the required journal entries for Telfer Co

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Question - Telfer Co. uses the gross method to record sales made on credit. On July 1, 2014, it made sales of 75,000 with terms 2/10 n/30. On July 9, 2014, Telfer received full payment for the July 1 sale. Prepare the required journal entries for Telfer Co?

Reference no: EM133085615

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