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Dougherty Enterprise purchased $15,000 of inventory on account on July 1, 2017 with terms of 2/10, net 30. Dougherty uses the periodic inventory system. The
Dougherty Enterprise purchased $15,000 of inventory on account on July 1, 2017 with terms of 2/10, net 30. Dougherty uses the periodic inventory system. The initial journal entry to record Doughertys purchase using the NET method of recording inventory includes a debit to ( ) for ( ) and a credit to ( ) for ( ).
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