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Goods costing $2240 are purchased on account on 18th July with credit terms of 2/7, n/30. On 20 July a $140 credit note is receivedfrom
Goods costing $2240 are purchased on account on 18th July with credit terms of 2/7, n/30. On 20 July a $140 credit note is receivedfrom the supplier for damaged goods. Give the journal entry on 24July to record payment of the balance due within the discount period.
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