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What are the journal entries

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Reference no: EM132935590

Problem 1: There was one sale of inventory with a cost of $30,000 and a selling price of $45,000 where the manager predicted only a 20% chance of actually getting paid but the transaction was carried out anyway - the terms of the sale required payment in 90 days this amount has not yet been collected and is not yet overdue as at December 31. What are the journal entries?

Reference no: EM132935590

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