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A company purchased merchandise inventory costing $15,000 with credit terms of 2/10, n/30 on November...

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Accounting

A company purchased merchandise inventory costing $15,000 with credit terms of 2/10, n/30 on November 7. On November 15, the company paid 1/3 of the amount due. The remaining balance was paid on December 7.

Record the journal entries related to this transaction using the net method of recording purchases.

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