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Two Company purchased inventory on account for $80,000. Two Company used a perpetual inventory system. The entry to record the transaction would include No entry

Two Company purchased inventory on account for $80,000. Two Company used a perpetual inventory system. The entry to record the transaction would include

No entry
A debit to inventory for $80,000
A debit to accounts payable for $80,000
A debit to accounts receivable for $80,000

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