On January 4, 2019, Dunbar Company purchased, on caOn November 16, 2019, Clear Glass Company borrowed $20,000 from First American Bank by issuing a 90-day, non-interest-bearing note. The bank discounted this note at 12% and remitted the difference to Clear Glass.redit, 2,500 television sets at $800 each. Terms of the purchase were 2/10, n/30. Dunbar paid for 20% of these sets on January 13 and the remaining 80% on February 1.

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Required journal entries are as prepared below Year Pa... View the full answer