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Journalize the following transactions for a merchandiser that uses the perpetual inventory system.
On January 8,inventory was sold for $7,000 on account.Credit terms were 2/15,n/30 (cost $5,500).On January 17,cash was received in full settlement of the January 8 sale.Omit explanations.
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A lifestyle in which individuals live together in a shared dwelling and resources, often associated with communal values and practices.
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