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Sheffield Company made a purchase of merchandise on credit from Ivanhoe Company on August 8 , for $10400, terms 2/10,n/30. On August 17, Sheffield makes

image text in transcribed Sheffield Company made a purchase of merchandise on credit from Ivanhoe Company on August 8 , for $10400, terms 2/10,n/30. On August 17, Sheffield makes payment to Ivanhoe. Sheffield Company uses a perpetual inventory system. The entry on August 17 for Sheffield Company is

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