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On May 1, Urbanek, Inc. sold merchandise in the amount of $5…
On May 1, Urbanek, Inc. sold merchandise in the amount of $5,800 to Sanders, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Urbanek uses the perpetual inventory system and the gross method. The journal entry or entries that Urbanek will make on May 1 is:
On May 1, Urbanek, Inc. sold merchandise in the amount of $5…
Questions
On Mаy 1, Urbаnek, Inc. sоld merchаndise in the amоunt оf $5,800 to Sanders, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Urbanek uses the perpetual inventory system and the gross method. The journal entry or entries that Urbanek will make on May 1 is:
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