Novak Co. uses the net method to account for cash discounts. On June 1, 2020, it made sales of $52,500 with terms 3/15, n/45. On June 12, 2020, Novak received full payment for the June 1 sale. Prepare the required journal entries for Novak Co. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
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