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    Fundamental Accounting Principles Study Set 1
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    Exam 9: Accounting for Receivables
  5. Question
    Felton Corporation Purchased $4,000 in Merchandise from Marita Co
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Felton Corporation Purchased $4,000 in Merchandise from Marita Co

Question 3

Question 3

Short Answer

Felton Corporation purchased $4,000 in merchandise from Marita Co. Felton signed a 60-day, 10%, $4,000 promissory note. Marita should record the sale with a journal entry debiting ________ for $ ________ and crediting ________ for $ ________.

Correct Answer:

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