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On January 15, Radio 123 purchased 25 radios on account from General Radio, Inc. Radio 123 received the related invoice in the amount of $11,250
On January 15, Radio 123 purchased 25 radios on account from General Radio, Inc. Radio 123 received the related invoice in the amount of $11,250 on the same day. Assume that the credit terms are 2/10,n/20. If Radio 123 wants to settle the outstanding account payable on January 22, which one the following journal entries would Radio 123 record? Radio 123 uses a perpetual inventory system. $11,250 Accounts payable Cash $11,250 $11,250 Accounts payable Cash Inventory $11,025 $225 $11,250 Accounts receivable Cash $11,250 $11,250 Accounts payable Inventory $11,250
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