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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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8 years ago
A company purchased inventory for $2,000 from a vendor on account, FOB shipping point, with terms of 2/10, n/30. The company paid $100 cash for freight in. Prepare the journal entry to record payment of the invoice within 10 days by the purchaser. (Assume a perpetual inventory system.)
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Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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Mrgo-breedMrgo-breed
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H3Ko Author
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7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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7 years ago
I'm liking this Slight Smile
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