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1. Theisen Tools Company recently purchased inventory from one of its largest suppliers. The company receives an invoice, which states the credit terms 2/10,
1. Theisen Tools Company recently purchased inventory from one of its largest suppliers. The company receives an invoice, which states the credit terms 2/10, n/30. Is the liability an example of an account payable, current portion of long-term debt, or short-term notes payable?
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