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25 August, 16:37

Adidea Corp. purchased 500 units of merchandise at $15 per unit from a vendor. It pays 50 percent of its purchase with cash and puts the rest on credit. How will the company record this transaction, assuming it uses a perpetual system?

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  1. 25 August, 16:39
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    Merchandise Inventory 7,500

    Cash in bank 3,750

    Accounts Payable 3,750
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