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What was bullseyes net cost of this inventory

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Reference no: EM13553439

Suppose a BullsEye store purchases $60,000 of women%u2019s sportswear on account from Muddy

John on July 1, 2011. Credit terms are 2/10, net 45. BullsEye pays electronically, and Muddy

John receives the money on July 10, 2011.

Requirements

1. Journalize BullsEye%u2019s transactions for July 1, 2011, and July 10, 2011.

2. What was BullsEye's net cost of this inventory?

Reference no: EM13553439

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