Make the journal entries to record the sale and settlement, Accounting Basics

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Make the journal entries to record the sale and settlement

On June 1, 2015, Hardy and Company sold merchandise on account to Laurel Company for $16,000 with terms of 2/10 net 30. On June 30, Laurel Company gave Hardy a 10% Promissory Note to settle the account. Make the journal entries to record the sale and settlement of the account receivable.

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Accounting Basics: Make the journal entries to record the sale and settlement

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