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Furniture with a $3,000 sticker price is purchased for $2,500 on account. Which of the following entries would properly record this purchase? A) Debit furniture
Furniture with a $3,000 sticker price is purchased for $2,500 on account. Which of the following entries would properly record this purchase?
A) Debit furniture $2500, credit cash for $2500
B) Debit furniture $3000, credit accounts payable $3000
C) Debit furniture $2500, credit accounts payable $2500
D) Debit furniture $3000, credit cash $3000
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