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QUESTION
On January 10,2008 Edmunds Co. sold merchandise on account to Jeff Gallup for $13,000, n/30. On February 9, Jeff Gallup gave Edmunds Co. a 10%...
On January 10,2008 Edmunds Co. sold merchandise on account to Jeff Gallup for $13,000,n/30. On February 9, Jeff Gallup gave Edmunds Co. a 10% promissory note in settlement ofthis account. Prepare the journal entry to record the sale and the settlement of the accountreceivable.
