6. A retail sportswear company purchased merchandise of $500 on account from Awesome Sweats, a supplier. Awesome

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6. A retail sportswear company purchased merchandise of $500 on account from Awesome Sweats, a supplier. Awesome Sweats prepaid freight charges of $50 and added them to the invoice. The company’s accountant prepared the following journal entry to record the transaction (ignore posting references):

Debit Credit Purchases 550.00 Accounts Payable/
Awesome Sweats 550.00 What entry should have been made to record the transaction?

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