On June 1, 2015, Hardy and Company sold merchandise on account to Laurel Company for $16,000 with terms of 2/10…

On June 1, 2015, Hardy and Company sold merchandise on account to Laurel Company for $16,000 with terms of 2/10 net 30.  On June 30, Laurel Company gave Hardy a 10% Promissory Note to settle the account.  Make the journal entries to record the sale and settlement of the account receivable.

 

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