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Question 1 (9 Marks) Addy Corporation purchased merchandise on account from Betty Supplies for $136,000, with terms of 2/10, n/30. During the discount period, Addy
Question 1 (9 Marks) Addy Corporation purchased merchandise on account from Betty Supplies for $136,000, with terms of 2/10, n/30. During the discount period, Addy returned some merchandise and paid $113,680 as payment in full. Addy uses a perpetual inventory system. Prepare the journal entries that Addy made to record the purchase and return of the merchandise, as well as the payment on account (Show all your work)
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