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Business, 21.08.2021 02:00 genyjoannerubiera

LOL Music Store uses the perpetual inventory system to account for its merchandise. On November 17, it purchased $1,000 of merchandise with terms of 2/5,n/60. If payment is made on December 21, demonstrate the required journal entry to record the payment by selecting all of the correct actions below. (Check all that apply.) Multiple select question. Credit Cash $980. Credit Cash $1,000. Credit Accounts Payable $1,000. Debit Accounts Payable $1,000. Credit Merchandise Inventory $20.

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LOL Music Store uses the perpetual inventory system to account for its merchandise. On November 17,...
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