On September 12, Vander Company sold merchandise in the amount of $5,800 to Jepson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Vander uses the periodic inventory system. The journal entry or entries that Vander will make on September 12 is:
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Sales
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5,800
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|
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Accounts receivable
|
|
5,800
|
|
Sales
|
5,800
|
|
|
Accounts receivable
|
|
5,800
|
|
Cost of goods sold
|
4,000
|
|
|
Merchandise Inventory
|
|
4,000
|
|
Accounts receivable
|
5,800
|
|
|
Sales
|
|
5,800
|
|
Accounts receivable
|
5,800
|
|
|
Sales
|
|
5,800
|
|
Cost of goods sold
|
4,000
|
|
|
Merchandise inventory
|
|
4,000
|
|
Accounts receivable
|
4,000
|
|
|
Sales
|
|
4,000
|