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2: We purchase some Inventory on January 1. The inventory has a cost of $20,000 and we purchase it via terms 1/15, n/30. The payment
2: We purchase some Inventory on January 1". The inventory has a cost of $20,000 and we purchase it via terms 1/15, n/30. The payment is made on January 20h. Record the journal entries for both the initial purchase and the payment. You may omit the date and descriptions on the journal entries January 13 January 20th
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