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1 9 . A company purchases inventory for $ 1 0 , 0 0 0 , with terms 3 / 1 0 , n /

19. A company purchases inventory for $10,000, with terms 3/10, n/30. The company uses a perpetual system and the net method to record purchases. To record this transaction, the company debits the inventory account for $9,970. Which of the following statements is correct?
a. The company should instead debit purchases
b. The company should instead credit inventory
c. The recorded amount should instead be $9,700
d. Two of the other answer choices are correct

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