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ansaction 2 The company quickly acquired $40,000 in inventory, 60% of which was acquired on open accounts that were payable after 30 days. The rest

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ansaction 2 The company quickly acquired $40,000 in inventory, 60% of which was acquired on open accounts that were payable after 30 days. The rest was paid for in cash. Account: Inventory Account Cash Account Accounts Payable Account: Leave Blank Account: Leave Blank Dollar amount: Dollar amount: Dollar amount: Dollar amount: Dollar amount: 40000 -16000 -24000

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