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Silver Co. sold merchandise to Bronze Co. on account, $23,000, terms 2/15, net 45. The cost of the merchandise sold is $18,500. Silver Co. issued a credit memorandum for $2,500 for merchandise returned that originally cost $1,900. The Bronze Co. paid the invoice within the discount period. Prepare the entries that both Silver and Bronze Companies would record for the above.

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M9394970

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