A company purchased $1,800 of merchandise on july 5 with terms 2/10, n/30. on july 7, it returned $200 worth of merchandise. on july 28, it paid the full amount due. assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the purchase on july 5 is:

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Javan

4 December, 22:28

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Arnav Liu · Answer 1

It would round up to total an exact amount of - $1,568