Merchandise with a sales price of $11,600 is sold on account with terms 2/10, n/30....
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Accounting
Merchandise with a sales price of $11,600 is sold on account with terms 2/10, n/30. The journal entry to record the sale would include a Oa. debit to Cash for $11,600 Ob. debit to Customer Refunds Payable for $232 Oc. credit to Sales for $11,368 Od. debit to Accounts Receivable for $11,600
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