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  1. business
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  3. on october 2, cedarhurst company purchased $90,000

On October 2, Cedarhurst Company purchased $90,000 of merchandise from a supplier on account, terms...

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Accounting

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On October 2, Cedarhurst Company purchased $90,000 of merchandise from a supplier on account, terms FOB destination, n/30. On October 16, Cedarhurst identified $5,600 of the inventory purchased on October 2 was damaged. Cedarhurst returned the merchandise to the supplier before they paid the invoice for this purchase. From Cedarhurst's view, the journal entry to record the return will include which one of the following select only one): debit to Accounts Receivable for $5,600 debit to Accounts Payable for $5,600 debit to Inventory for $5,600 credit to Accounts Receivable for $5,600

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