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Dublin, Inc. uses the periodic inventory system. On February 1, the corporation purchased inventory on account for $12,000. The terms were 3/10, n/30. On February
Dublin, Inc. uses the periodic inventory system. On February 1, the corporation purchased inventory on account for $12,000. The terms were 3/10, n/30. On February 2, it returned damaged goods worth $400 to the supplier. Give the journal entry for the payment if the invoice is paid after the discount period. (Round your answers to the nearest dollar) 11,600 11,600 11,640 360 12,000 O A. Accounts Payable Cash OB. Cash Purchase Discounts Accounts Payable O C. Cash Accounts Payable OD. Accounts Payable Cash Purchase Discounts 12,000 12,000 12,000 11,640 360
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