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Business, 30.12.2021 01:40 logan5713

On April 4, Angola Company (AC) sold chairs to one of its customers for $65,000 on credit terms of 3/15, net 30. On April 8, the customer contacted AC to say that the chair colours did not match their original order. AC reached an agreement with the customer to keep the shipment and AC granted the customer a price reduction of $3,000. The customer paid the outstanding bill on April 15. The journal entry to be made by AC on April 15 is:

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On April 4, Angola Company (AC) sold chairs to one of its customers for $65,000 on credit terms of 3...
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