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For a company using a perpetual inventory system, the journal entry to record the purchase of $4200 of goods on account, with terms of 4/10,
For a company using a perpetual inventory system, the journal entry to record the purchase of $4200 of goods on account, with terms of 4/10, n/30, would include a
debit to Inventory of $4032.
debit to Inventory of $4200.
debit to Accounts Payable of $4200.
credit to Accounts Payable of $4032.
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