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A company records purchases using the net method. On February 1, they purchased merchandise inventory on account for $8,350 with terms of 1/10, n/30. The
A company records purchases using the net method. On February 1, they purchased merchandise inventory on account for $8,350 with terms of 1/10, n/30. The February 1 journal entry to record this transaction would include a: (Round your answer to nearest whole dollars.)
Credit to Accounts Payable of $8,350.
Debit to Merchandise Inventory of $8,267.
Debit to Merchandise Inventory of $84.
Debit to Merchandise Inventory of $8,350.
Credit to Merchandise Inventory of $84.
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