TD 3 - ..................................... 40,600...

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E 6-30 (p. 261) June 24: Accounts Receivable. ................................................. $70,000 Revenue. ......................................................... 70,000 (Sold merchandise on credit; 2/10, n/30) June 30: Cash. ........................................................................... 39,200 Sales Discount. ........................................................... 1,400 Accounts Receivable.
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Unformatted text preview: ..................................... 40,600 (Customer was allowed a discount for the timely payment) July 20: Cash. ........................................................................... 21,000 Sales Returns & Allowances. ..................................... 9,000 Accounts Receivable. ..................................... 30,000 (Received payment and returned merchandise)...
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This note was uploaded on 06/20/2011 for the course ECON 123 taught by Professor Mrews during the Spring '11 term at Korea Advanced Institute of Science and Technology.

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