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Question(s) / Instruction(s):

A company uses the perpetual inventory system and recorded the following entry:
Accounts Payable…………………………….$2,500
    Merchandise Inventory……………………..$50
    Cash……………………………………………………$2,450
This entry reflects a:
a)    Purchase.
b)    Return.
c)    Sale.
d)    Payment of the account payable and recognition of a cash discount taken.
e)    Purchase and recognition of a cash discount taken.

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