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Sheffield Company uses a perpetual inventory system and made a purcha.pdf

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Sheffield Company uses a perpetual inventory system and made a purchase of merchandise on credit from Ivanhoe Corporation on August 3, for $10400, terms 2/10,n/45. On August 10, Sheffield makes the appropriate payment to Ivanhoe. The entry on August 10 for Sheffield Company is Accounts Payable 10400 Cash 10400 Accounts Payable 10192 Cash 10192.

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Sheffield Company uses a perpetual inventory system and made a purchase of merchandise on credit from Ivanhoe Corporation on August 3, for $10400, terms 2/10,n/45. On August 10, Sheffield makes the appropriate payment to Ivanhoe. The entry on August 10 for Sheffield Company is Accounts Payable 10400 Cash 10400 Accounts Payable 10192 Cash 10192

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