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On June 5, a company purchases 170 units of inventory on account for $20 each with terms 1/10,n/30. The company pays for the inventory on
On June 5, a company purchases 170 units of inventory on account for $20 each with terms 1/10,n/30. The company pays for the inventory on June 12. Required: 1. Record transactions for the purchase of inventory and payment on account assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the purchase of inventory on account Note: Enter debits before credits General Journal Debit Credit Date June 05 Record entry Clear entry View general Journal
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