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Question(s) / Instruction(s):

A company pays for $15,000 in inventory it previously purchased on account. The company will record the payment as: a) Decrease cash $15,000, decrease inventory $15,000 b) Decrease cash $15,000, decrease Accounts payable $15,000 c) Decrease accounts payable $15,000, Decrease inventory $15,000 d) Decrease accounts payable, increase cost of inventory sold expense e) None of the above

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