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Avery Supplies Uses the Periodic Inventory System

question 71

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Avery Supplies uses the periodic inventory system. On February 1, Avery purchased inventory on account for $10,000. The terms of invoice were 3/10, n/30. The amount due was paid on February 9th. Which of the following journal entries correctly records the payment in the books of Avery?

Recognize the role of cognitive distortions and their impact on mood disorders.
Awareness of the biological underpinnings and neurotransmitter involvement in mood disorders.
Understand the impact of life events and transitions on mood disorders.
Realize the side effects of pharmacotherapy and other biological treatments for mood disorders.

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