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Accounting-Journal Entry

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Sales for the month were $650,000, 85% of sales were on account. Gross margin is 40% of sales.

  • Accounting-Journal Entry -

    Cash DR 97500.00
    AC Receivable 552500.00
    Sales 650000.00

    Sales 650000.00
    Cost of Sales 390000.00
    Gross profit 260000.00

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