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On September 12, Vander Company sold merchandise in the amount of $9.400 to Jepson Company, with credit terms of 2/10, 1/30. The cost of the

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On September 12, Vander Company sold merchandise in the amount of $9.400 to Jepson Company, with credit terms of 2/10, 1/30. The cost of the items sold is $5.800. Jepson uses the periodic inventory system and the gross method of accounting for purchases. The journal entry that Jepson will make on September 12 is: Multiple Choice 9,400 Merchandise inventory Accounts payable 9,400 9,40e Purchases Accounts payable 9,400 C merchandise inventory Accounts payable 9,4001 9,400 Purchases Accounts payable 9,400 9,400 Purchases Accounts receivable 9,400 9,400 Purchases Accounts receivable 5,800 5,800 Accounts payable Merchandise inventory 5,800 5 RAAI

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