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Tracy company, a manufacturer of air conditioners, sold 100 units to thomas company on november 17, 2013. the units have a list price of $500 each, but thomas was given a 30% trade discount. the terms of the sale were 2/10, n/30. thomas uses a periodic inventory system. required: 1. prepare the journal entries to record the purchase by thomas on november 17 and payment on november 26, 2013, using the gross method of accounting for purchase discounts.
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Bmw receives data transmitted by each new vehicle it sells to employees understand how customers use the products and when service may be needed. this use of technology aids in bmw's efforts to interact in an ongoing basis with its customers.
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Tracy company, a manufacturer of air conditioners, sold 100 units to thomas company on november 17,...
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