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Crest Company uses a perpetual inventory system. On October 1, the company purchases $1,000 of goods on account with a 2% discount if payment is
Crest Company uses a perpetual inventory system. On October 1, the company purchases $1,000 of goods on account with a 2% discount if payment is made within ten days. Crest returns $200 of goods on October 5. Crest pays for the goods on October 11. Crest Company's required entry on October 11 includes 0 a $16 decrease in Inventory. O $20 decrease in Inventory. an $800 decrease in Accounts Receivable. 0 a $784 decrease in Accounts Payable
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