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QUESTION
Lamps Unlimited, a wholesaler, sold several crates of lighting for $1,000 on account, to a customer with credit terms of 1/10, n/30.
Lamps Unlimited, a wholesaler, sold several crates of lighting for $1,000 on account, to a customer with credit terms of 1/10, n/30. If the customer pays within the discount period, the journal entry to record the receipt of payment would include:
