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Brief Exercise 6 - 1 3 ( Algo ) Record purchase discounts of inventory using a perpetual system ( LO 6 - 5 ) Shankar
Brief Exercise Algo Record purchase discounts of inventory using a perpetual system LO
Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February for $ with terms On February the company pays on account for the inventory.
Record a the inventory purchase on account on February and b the payment on February If no entry is required for a particular transactionevent select No Journal Entry Required" in the first account field.
table Answer is not complete.,,NoDate,,General Journal,Debit,CreditFebruary Inventory,Accounts Payable,February Accounts Payable,Cash,v
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