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Accounting
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Tracy Company, a manufacturer of air conditioners, sold units to Thomas Company on November The units have a list price of $ each, but Thomas was given a trade discount. The terms of the sale were
Required:
Prepare the journal entries to record the sale on November ignore cost of goods and collection on November assuming that the gross method of accounting for cash discounts is used.
Prepare the journal entries to record the sale on November ignore cost of goods and collection on December assuming that the gross method of accounting for cash discounts is used.
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