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1. quizlet.com › 630973162Chap 7 Inventories: Cost Measurement and Flow Assumptions -...

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   Vor einem Tag · ABC Company uses the net price method and purchases $150,000 of inventory under seller terms of 2/10, n/30. The journal entry for this purchase under the periodic inventory system will include a. debit to Inventory for $147,000. Many sellers offer discounts to buyers to encourage prompt payment.

2. quizlet.com › 511331600ACCT 2301 Ch2 Flashcards | Quizlet

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   ACCT 2301 Ch2. Get a hint. Russell Co. received a $480 utility bill for the current month's electricity. It is not due until the end of the next month which is when they intend to pay it. Which of the following general journal entries will Russell Co. make to record the receipt of the bill? Click the card to flip 👆. Debit Utilities expense ...

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