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Suppose Foster Outfitters uses the perpetual inventory system and purchases $660,000 of sporting goods on account from Fila on April 10, 2023. Credit terms

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Suppose Foster Outfitters uses the perpetual inventory system and purchases $660,000 of sporting goods on account from Fila on April 10, 2023. Credit terms are 3/10, net 30. Foster Outfitters pays electronically on April 20, 2023, and Fila receives the money the same day. Journalize Foster Outfitters's (a) purchase and (b) cash payment transactions. What was Foster Outfitters's net cost of this inventory? a. Journalize Foster Outfitters's purchase transaction. (Record debits first, then credits. Exclude explanations from journal entries.) Date April 10 Accounts Debit Credit b. Journalize Foster Outfitters's payment transaction. (Round final answers to the nearest whole dollar.) Date April 20 Accounts What was Foster Outfitters's net cost of this inventory? Debit Credit

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