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Instructions Travis Company purchased merchandise on account from a supplier for $7,500, terms 2/10, net 30 on December 26. Travis Company paid for the merchandise

Instructions Travis Company purchased merchandise on account from a supplier for $7,500, terms 2/10, net 30 on December 26. Travis Company paid for the merchandise on December 31, within the discount period. Required: Under a perpetual inventory system, record the journal entries required for the above transactions. Refer to the Chart of Accounts for exact wording of account titles

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