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A Company Uses the Perpetual Inventory System and Recorded the Following

Question 175

Multiple Choice

A company uses the perpetual inventory system and recorded the following entry: A company uses the perpetual inventory system and recorded the following entry: This entry reflects a: A) Purchase. B) Return. C) Sale. D) Payment of the account payable and recognition of a cash discount taken. E) Purchase and recognition of a cash discount taken. This entry reflects a:


A) Purchase.
B) Return.
C) Sale.
D) Payment of the account payable and recognition of a cash discount taken.
E) Purchase and recognition of a cash discount taken.

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