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[The following information applies to the questions displayed below.] On June 5, Staley Electronics purchases 290 units of inventory on account for $10 each, with

[The following information applies to the questions displayed below.] On June 5, Staley Electronics purchases 290 units of inventory on account for $10 each, with terms 1/10, n/30. Staley pays for the inventory on June 12. Required: 1. Record transactions for the purchase of inventory on account and payment on account using a perpetual system.\

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