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Isn't the $5000 debit to accounts payable right as well?? On March 15,2021 , Jack Company purchased $5,000 of merchandise on credit subject to terms
Isn't the $5000 debit to accounts payable right as well??
On March 15,2021 , Jack Company purchased $5,000 of merchandise on credit subject to terms 3/10,n/20. The periodic inventory system is used. If Jack pays for these goods on March 23, 2021, the entry made to record the payment should include which of the following? $4,850 credit to accounts payable $4,850 debit to cash $150 credit to purchase discount $5,000 debit to accounts payableStep by Step Solution
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