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Rescue Sequences LLC purchased inventory by issuing a $30,000, 00-day, non-interest bearing note on October 1. Assume that the note is discounted at a 15%

Rescue Sequences LLC purchased inventory by issuing a $30,000, 00-day, non-interest bearing note on October 1. Assume that the note is discounted at a 15% rate Required: Prepare the journal entries for Rescue Sequences to record the purchase and payment assuming it uses a perpetual inventory system and a 360-day calendar fiscal year

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