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On March 25, Osgood Company sold merchandise on account, $4,800 terms n/30. The applicable sales tax percentage is 7%. Journalize the transaction.

Respuesta :

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Answer:

Dr Acount Receivable- Osgood co $4464

Cr Merchandise Inventory $4464

Explanation:

Preparation of the journal entry

Based on the information given the appropriate journal entry for the transaction will be:

Dr Acount Receivable- Osgood co $4464

Cr Merchandise Inventory $4464

[$4800-(7%*$4800)]

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