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Mars Company purchased $2,500 of merchandise on account, terms 3/10 n/60. If payment was made within the discount period, the entry to record the payment
Mars Company purchased $2,500 of merchandise on account, terms 3/10 n/60. If payment was made within the discount period, the entry to record the payment under a periodic inventory system would include a credit to OA. Cash of $2,425 OB. Accounts Payable of $2,400 OC. Cash for $2,400 OD. Inventory of $2.352
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