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Johnson Company uses a perpetual inventory system. On October 2 3 , Johnson purchased $ 1 9 0 , 0 0 0 of inventory on

Johnson Company uses a perpetual inventory system. On October 23, Johnson purchased $190,000 of inventory on credit with payment terms of 1/15, net 45.
Required:
Using the net price method, prepare journal entries to record Johnsons purchase on October 23 and the subsequent payment on November 30. THERE ARE 5 JOURNAL ENTRY SPOTS!

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