Assume that all of Company A s net sales 2 625 500 are on account journal entry help
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1) Assume that all of Company A’s net sales ($2,625,500) are “on account.” Write the journal entry necessary to record total net sales for 2015.
2) Write the journal entry necessary to record Company A’s “Selling, general, and Administrative expenses” ($1,122,000) for 2014, assuming that 90 percent of the expense was paid for with cash while 10 percent was paid for on credit to regular suppliers.
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