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Red Company had the following transactions and uses a perpetual inventory system: March 1st: Bought $9,500 worth of inventory from Brown Corp on account March

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Red Company had the following transactions and uses a perpetual inventory system: March 1st: Bought $9,500 worth of inventory from Brown Corp on account March 5th Successfully returned $300 worth of product to Brown Corp March 25th Paid Brown Company in full What is the journal entry on March 25th that Red Corp would record: Inventory OA Sales Return Cash $9,500 $300 $9,200 Account Payable Sales Discount Cash $9,500 $300 $9,200 B. Account Payable Cash $9,200 $9,200 Cash Accounts Payable $9,500 $9,500 D

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