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Santa Fe Company purchased merchandise for resale from Mesa Company with an invoice price of $17,300 and credit terms of 3/10, n/60. The merchandise had
Santa Fe Company purchased merchandise for resale from Mesa Company with an invoice price of $17,300 and credit terms of 3/10, n/60. The merchandise had cost Mesa $11,799. Santa Fe paid within the discount period. Assume that both buyer and seller use a perpetual inventory system. 1. Prepare the entries that Santa Fe should record for the above transactions View transaction list Santa Fe Company purchased merchandise for resale from Mesa Company with an invoice price of $17,300 and credit terms of 3/10, n/60. 1 pany 2 Santa Fe paid within the discount period
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