Solved: Sandhill co uses the net method to account for cash, Accounting Basics

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Sandhill co uses the net method to account for cash

Problem

Sandhill co. uses the net method to account for cash discounts. On june 1, 2017, it made sales of 66,600 with terms 4/15, n/45. On June 12, 2017, Sandhill received full payment for the June 1 sale.

Prepare the required journal entries for Sandhill co.

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Accounting Basics: Sandhill co uses the net method to account for cash

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Accounting Basics: Sandhill co uses the net method to account for cash

Reference No:- TGS02599950

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