[The following information applies to the questions displayed below.] Comfort Company purchased 160...

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Accounting

[The following information applies to the questions displayed below.]
Comfort Company purchased 160 units of inventory on November 17,2024. The units have a list price of $550 each, but
Comfort was given a 40% trade discount. The terms of the sale were 210,n30. Comfort uses a perpetual inventory
system.
quired:
Prepare the journal entries to record the (a) purchase by Comfort on November 17 and (b) pa
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