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On January 6 Gramke Co. sells merchandise on account to Colt Inc. for $8,000, terms 1/10, n/30. On January 16 Colt pays the amount due.
Instructions
Prepare the entries on Gramke Co.'s books to record the sale and related collection.
Accounting Basics, Accounting
Priced at $20 Now at $10, Verified Solution
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