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Rae Company Uses a Perpetual Inventory System and Made a Purchase

Question 63

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Rae Company uses a perpetual inventory system and made a purchase of merchandise on credit from Tyree Corporation on August 3 for $9,000, terms 2/10, n/45.On August 10, Rae makes the appropriate payment to Tyree.The entry on August 10 for Rae Company is Rae Company uses a perpetual inventory system and made a purchase of merchandise on credit from Tyree Corporation on August 3 for $9,000, terms 2/10, n/45.On August 10, Rae makes the appropriate payment to Tyree.The entry on August 10 for Rae Company is

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