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What account is cr., and what would be the charge? Jun 3: Purchased $16,500 of merchandise on account from A to Z Equipment. Terms, 2/15,
What account is cr., and what would be the charge?
Jun 3: Purchased $16,500 of merchandise on account from A to Z Equipment. Terms, 2/15, n/45, FOB shipping point. Journal Entry Date Accounts Debit Credit Jun 16,170 3 Inventory Accounts payable 16,170 Jun 17: Paid A to Z Equipment the amount due from the June 3 purchase in full. Journal Entry Date Accounts Debit Credit Jun 17 Accounts payableStep by Step Solution
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