Question: Rescue Sequences LLC purchased inventory by issuing a 30 000 10
Rescue Sequences LLC purchased inventory' by issuing a $30,000, 10%, 60-day note on October 1. Prepare the journal entries for Rescue Sequences to record the purchase and payment assuming it uses a perpetual inventory' system and a 360 day calendar fiscal year. Rescue Sequences LLC uses a perpetual inventory' system.
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