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Farthington Soccer Supplies purchases merchandise from a supplier on credit, terms 2/10, n/30 for $15,300. When recording the payment of the invoice within the discount
Farthington Soccer Supplies purchases merchandise from a supplier on credit, terms 2/10, n/30 for $15,300. When recording the payment of the invoice within the discount period in its cash payments journal, Farthington would enter: Multiple Choice $15,300 in the Cash Credit column and $15,300 in the Inventory Debit column. $15,300 in the Cash Credit column and $15,300 in the Accounts Payable Debit column. $15,300 in the Inventory Credit column; $14,994 in the Accounts Payable Debit column; and $306 in the Inventory Credit column. $14,994 in the Accounts Payable Debit column and $14,994 in the Cash Credit column. $15,300 in the Accounts Payable Debit column; $14,994 in the Cash Credit column; and $306 in the Inventory Credit column
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