Cristina Nichols

Business

2 April, 13:23

On April 2, Kelvin sold $80,000 of inventory items on credit with the terms 2/10, net 30. Payment on $60,000 sales was received on April 8 and the remaining payment on $20,000 sales was received on April 27. Assuming Kelvin uses the net method of accounting for sales discounts, the entry recorded on April 27 would be:

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