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On February 1, Kroger supermarket purchases inventory for $2,000 from a vendor on account, FOB shipping point, with terms of 2/10, n/30. Kroger paid the
On February 1, Kroger supermarket purchases inventory for $2,000 from a vendor on account, FOB shipping point, with terms of 2/10, n/30. Kroger paid the shipper $100 cash for freight in. Which of the following entries would be made to record payment to the vendor (supplier) if the payment is made on February 9? $1,960 debit to Accounts payable and a $1,960 credit to Cash $2,000 debit to Accounts payable, a $100 debit to Inventory and a $1,960 credit to Cash $2,000 debit to Accounts payable, a $40 credit to Inventory and a $1,960 credit to Cash $1,960 debit to Accounts payable, a $40 debit to Inventory and a $2,000 credit to Cash
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