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Perpetual Inventory System - Purchaser ABC company purchased $50,000 of merchandise on account. American Airlines billed ABC $2,000 for the freight charge . Terms are

Perpetual Inventory System - Purchaser ABC company purchased $50,000 of merchandise on account. American Airlines billed ABC $2,000 for the freight charge . Terms are 02/10/net 30 FOB Shipping Point Required: 1) Record the Journal Entry for the Purchase of the merchandise. 2) Record the Journal Entry for the Freight

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