CJunc8211 CJunc8211

02-11-2022
Business

Answered

on february 3, smart company sold merchandise in the amount of $2,000 to kennedy company, with credit terms of 2/10, n/30. the cost of the items sold is $1,380. smart uses the perpetual inventory system and the gross method. kennedy pays the invoice on february 8 and takes the appropriate discount. the journal entry that smart makes on february 8 is:

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