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Candy Company undergoes the following transactions: October 1: Purchases $2,000 of inventory on account with discount terms 2/10, n/30. October 5: Returns $500 of merchandise.

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Candy Company undergoes the following transactions: October 1: Purchases $2,000 of inventory on account with discount terms 2/10, n/30. October 5: Returns $500 of merchandise. October 9: Pays for the inventory, taking advantage of the discount. Which is the correct journal entry for October 9 ? Dr. Accounts Payable 1,470; Cr. Cash 1,470 Dr. Accounts Payable 1,500, Cr. Inventory 30; Cr. Cash 1,470 Dr. Accounts Payable 1,500: Cr. Cash 1,500 Dr, Accounts Payable 1,500; Cr. Sales Discount 30; Cr. Cash 1.470

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