Current Attempt in Progress Bridgeport Corporation, which uses a perpetual inventory system, purchased $2040...

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Accounting

Current Attempt in Progress
Bridgeport Corporation, which uses a perpetual inventory system, purchased $2040 of merchandise on July 5 on account. Credit
terms were 210,n30. It returned $408 of the merchandise on July 9. Which of the following is one effect when Bridgeport pays its
bill on July 21?
Debit to Cash for $1632
Credit to Accounts Payable for $1632
Credit to Cash for $1632
Debit to Accounts Payable for $2040
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