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53. - Company AAA purchased inventory for $50,000 and paid $20,000 in cash, with the remaining amount on credit. -
53.
- Company AAA purchased inventory for $50,000 and paid $20,000 in cash, with the remaining amount on credit.
- Calculate the amount owed to the supplier and record the journal entry for the inventory purchase. Discuss the impact of inventory management on working capital.
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