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TB MC Qu. 04-160 (Algo) Morgan, Incorporated uses a perpetual inventory... Morgan, Incorporated uses a...

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TB MC Qu. 04-160 (Algo) Morgan, Incorporated uses a perpetual inventory... Morgan, Incorporated uses a perpetual inventory system and the net method of recording purchases. On May 12, a merchandise purchase of $18,800 was made on credit, 2/10, n/30. The journal entry to record this purchase is

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