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Cullumber Co. uses the gross method to record sales made on credit. On June 1, 2020,...

Cullumber Co. uses the gross method to record sales made on credit. On June 1, 2020, it made sales of $40,000 with terms 2/15, n/45. On June 12, 2020, Cullumber received full payment for the June 1 sale. Prepare the required journal entries for Cullumber Co.

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