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point issued will be redeemed for the discount. During July 2024, the company redeemed 11,000 points and sold additional product of $137,500, so it recorded of revenue of $148.500. The aggregate stand-alone selling price of the purchased products is $148,500 Seventy percent of sales were cash sales, and the remainder were credit sales. Required: 1. \& 2. Prepare Supply Club's journal entry to record July and August sales. During August, customers redeem loyalty points on $66,000 of merchandise. Sixty-five percent of those sales were for cash, and the remainder were credit sales. Note: Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first occount field. Journal entry worksheet Record the July sales. Watel Enter debta befors credits. Journal entry worksheet Record the August sales. Note: Enter debits before credits. Aequired: the Brat octount fiebs. Journal entry worksheet +1 necout the why wer Journal entry worksheet Record the August sales. Note: Enter debits before credits. Supply Club, incorporated, sells a variely of paper products, ofice supplies and other products used by businesses and individual consumers. During July 2024 , it started a loyalify program through which qualifying customers can accumulate points and redeem for purchases that are made by redeeming loyolity points. Based on pist experience, Supply Club estimates o 60% probability that any point issued wit be redeemed for the discount. During July 2024, the company redeemed no00 points and sold additional product of Roquired: Note: Do not round intermed lote calculationi. It no entry is required for a transaction/event, selest "No journol entry required" in the first occount field. Journal entry worksheet Record the August sales. Note: Enter debits before credits

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