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On December 5, 2022. Dunlavy Industries purchased $13,000 of merchandise on credit subject to terms of 3/10, n/30. Dunlavy records its purchases using the
On December 5, 2022. Dunlavy Industries purchased $13,000 of merchandise on credit subject to terms of 3/10, n/30. Dunlavy records its purchases using the gross method. Which of the following journal entries is correct when Dunlavy pays for these goods on December 10, 2022? Multiple Choice Account Title Accounts payable Debit 12,610 Credit Inventory 390 Cash 13,000 Account Title Accounts payable Debit 12,610 Credit Cash 12,610 Account Title Debit Credit Accounts payable 13,000 Cash 12,610 Inventory 390 Account Title Debit Credit Accounts payable Cash 13,000 13,000
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