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On May 1, 2020, Radler Inc. purchased merchandise for resale for $130,000 on credit terms 2/10, n/30 from a supplier. Radler Inc. incurred a shipping
On May 1, 2020, Radler Inc. purchased merchandise for resale for $130,000 on credit terms 2/10, n/30 from a supplier. Radler Inc. incurred a shipping charge from a freight provider of $8,000 on the purchase, which was immediately paid. The company uses the gross method to record purchases. If Radler Inc. paid for half of its purchase on May 9, 2020, the entry to record the payment would include the following: O A) Credit to cash for $65,000 B) Credit to inventory for $1,300 C) Credit to inventory for $1,380 OD) Debit to Accounts Payable for $63,700
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