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On August 1, Grayson Company bought goods with a list price of $4,800, terms 2/10, n/30. The firm records purchases at invoice price using

On August 1, Grayson Company bought goods with a list price of $4,800, terms 2/10, n/30. The firm records purchases at invoice price using the perpetual inventory system. On August 5 Grayson returned goods with a list price of $600 for credit it Grayson paid the supplier the amount due on August 9, the appropriate entry would be:

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