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Make the correct journal entry to record the payment on July

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Question - A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On July 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, make the correct journal entry to record the payment on July 12?

Reference no: EM132621198

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