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On August 1 , Joyful Co . purchased inventory costing $ 5 0 0 , with credit terms of 2 / 1 0 , n

On August 1, Joyful Co. purchased inventory costing $500, with credit terms of 2/10, n/15. Ignoring shipping terms, what is the journal entry that Joyful Co. should record on August 1?

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