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Purchases were initially recorded at gross amounts totaling $11760, $15840, and $19600 on August 10th, 13th, and 25th respectively. Discounts of $1176, $1176, and $4000 were taken and recorded by crediting Purchases and debiting Accounts Payable on August 13th, 15th, and 28th. On August 28th, Accounts Payable of $16000 was paid in cash.

Author

Amandeep Singh

Language

EN