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Q 5.6: On August 28, Renoir Company purchased merchandise from Sisley Company for $2,375 on credit. Under the perpetual system, the entry by Renoir Company

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Q 5.6: On August 28, Renoir Company purchased merchandise from Sisley Company for $2,375 on credit. Under the perpetual system, the entry by Renoir Company is? Cash 2,375 Accounts Payable...... 2,375 2,375 Sales Revenue........ Accounts Payable...... 2,375 C 2,375 Inventory Accounts Payable........ 2,375 2,375 Accounts Payable............ Inventory.... 2,375

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