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Blossom co uses the net method to account for cash


Question - Blossom Co. uses the net method to account for cash discounts. On June 1, 2017, it made sales of $54,300 with terms 3/15, n/45. On June 12, 2017, Blossom received full payment for the June 1 sale.

Prepare the required journal entries for Blossom Co.

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Accounting Basics: Blossom co uses the net method to account for cash
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