Posted by Anonymous on .
The adjusted trial balance columns of the worksheet for Porter Company are as follows
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Cycle Wholesaling sells merchandise on credit terms of 2/10, n/30. A sale for $3,000 (cost of goods sold of $1,800) was made to Sarah's Cycles on February 1, 2010. Assume Cycle Wholesaling uses a perpetual inventory system.
Prepare the journal entry Cycle Wholesaling would make to record the sale to Sarah’s Cycles