Sweet Co. uses the gross method to record sales made on credit. On June 1, 2020, it made sales of $61,000 with terms 3/15, n/45. On June 12, 2020, Sweet received full payment for the June 1 sale. Prepare the required journal entries for Sweet Co. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date + Account Titles and Explanation Debit Credit
Sweet Co. uses the gross method to record sales made on credit. On June 1, 2020, it made sales of $61,000 with terms 3/15, n/45. On June 12, 2020, Sweet received full payment for the June 1 sale. Prepare the required journal entries for Sweet Co. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date + Account Titles and Explanation Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Sweet Co. uses the gross method to record sales made on credit. On June 1, 2020, it made sales of $61,000 with terms 3/15, n/45. On
June 12, 2020, Sweet received full payment for the June 1 sale.
Prepare the required journal entries for Sweet Co. (If no entry is required, select "No Entry" for the account titles and enter O for
the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record
journal entries in the order presented in the problem.)
Date
+
Account Titles and Explanation
Debit
Credit
17
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