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What journal entry did they prepare on july? 5

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Reference no: EM132354565

Question

On July? 1, Corrao Company purchased >$ 2000

$2,000 of inventory on account with credit terms of 3

3?/10, net 30. Corrao Company uses the perpetual inventory system. On July? 5, Corrao Company paid the amount due. What journal entry did they prepare on July? 5?

Reference no: EM132354565

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