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The entry to record a purchase of $5,000 on account, terms of 2/10, n/30, would include a

2 Answers

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credit to Account Payable for $5,000


User Gatteo
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Calculate, from the following information accumulated by Bob​ Verna, the adjusted cash balance at the end of July.

Bank statement ending cash balance​ $6,000

General ledger cash balance ending​ 8,500

Bank monthly service charge 90

Deposits in transit​ 5,000

Outstanding cheques​ 3,000

NSF cheque returned with bank statement 410


User Colin Coghill
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