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A company using the perpetual inventory system purchased inventory worth? $550,000 on account with credit terms of? 2/15, n/45. Defective inventory of? $70,000 was returned
A company using the perpetual inventory system purchased inventory worth? $550,000 on account with credit terms of? 2/15, n/45. Defective inventory of? $70,000 was returned 3 days? later, and the accounts were appropriately adjusted. If the company paid the invoice 25 days? later, the journal entry to record the payment would be? ________.
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