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E9.2 (LO 1) Presented below are selected transactions of Molina Company. Molina sells in large...

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Accounting

E9.2 (LO 1) Presented below are selected transactions of Molina Company. Molina sells in large quantities to other companies and also sells its product in a small retail outlet.

Journalize entries related to accounts receivable.

March1

Sold merchandise on account to Dodson Company for $5,000, terms 2/10, n/30.

3

Dodson Company returned merchandise worth $500 to Molina.

9

Molina collected the amount due from Dodson Company from the March 1 sale.

15

Molina sold merchandise for $400 in its retail outlet. The customer used his Molina credit card.

31

Molina added 1.5% monthly interest to the customer's credit card balance.

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