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Company purchases $55,000 merchandise inventory and pays $5,000. Which of the following is true for the accounting of this transaction? Accounts Payable credit $50,000 Merchandise

Company purchases $55,000 merchandise inventory and pays $5,000. Which of the following is true for the accounting of this transaction?

Accounts Payable credit $50,000

Merchandise Inventory debit $50,000

Accounts Payable debit $5,000

Cash debit $5,000

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