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Business, 16.03.2020 22:03 oudithe3

Purchases were made on account on August 5th in the amount of $100,000 with terms of 1/10, n/30. The bill was paid on August 14th. In a perpetual inventory system the journal entry to record the payment would include A : a credit to Accounts Receivable for $100,000. B : a credit to Inventory for $1,000. C : a debit to Accounts Payable for $99,000. D : a credit to Cash for $100,000.

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