Business, 02.06.2021 02:00, maleyjustinr
On February 3, Smart Company sold merchandise in the amount of $2,700 to Truman Company, with credit terms of 1/10, n/30. The cost of the items sold is $1,865. Smart uses the perpetual inventory system and the gross method. Truman pays the invoice on February 8, and takes the appropriate discount. The journal entry that Smart makes on February 8 is:
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On February 3, Smart Company sold merchandise in the amount of $2,700 to Truman Company, with credit...
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