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Business, 19.10.2019 03:30 s1871407

David company uses the gross method to record sales made on credit. on june 10, 2017, it sold goods worth $250,000 with terms 2/10, n/30 to charles inc. on june 19, 2017, david received payment for 1/2 of the amount due from charles inc. david’s fiscal year end is on june 30, 2017.

required: journal entries for the transcation,

what amount will be reported in the financial statements for the accounts receivable due from charles inc.?

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