A company purchased inventory for $2,200 on account, and recorded the following journal entry:
Merchandise Inventory 2,200
Accounts payable 2,200
The vendor's invoice showed terms of 3/10, n/30
Give the journal entry for the payment of the invoice 17 days after the invoice date.
What will be an ideal response
Accounts Payable 2,200
Cash 2,200
Business
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