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On May 10 2017 Cosmo Co enters into a contract to deliver a product to Greig Inc on June 15, 2017 Greig agrees to pay the full price of $2000 on July 15 2017 The cost of goods is

On May 10, 2017, Cosmo Co. enters into a contract to deliver a product to Greig Inc. on June 15, 2017. Greig agrees to pay the full price of $2,000 on July 15, 2017. The cost of goods is $1,300. Cosmo delivers the product to Greig on June 15, 2017, and receives payment on July 15, 2017. Prepare the journal entries for Cosmo related to this contract.

Apr 21 2020 View more View Less

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