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Kings Co., LLC makes a sale of merchandise for $5,820 on credit with terms 1/15,n/45....

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Question

Accounting

Kings Co., LLC makes a sale of merchandise for $5,820 on credit with terms 1/15,n/45. The original cost of the merchandise to Kings is $3,770. Record the sale and cost of goods sold below. Record the sales part first, then the cost of goods sold portion second (like in the PowerPoint).

Accounts Debit Credit

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["Accounts Receivable", "Cash", "Accounts Payable", "Sales Revenue"]

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[ Select ] ["Accounts Receivable", "Sales Revenue", "Cost of Goods Sold", "Cash"] [ Select ]

[ Select ]

["Sales Revenue", "Cost of Goods Sold", "Accounts Payable", "Inventory"]

[ Select ]

[ Select ]

["Inventory", "Accounts Receivable", "Accounts Payable", "Cost of Goods Sold"]

[ Select ]

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