Question: Using the information from RE8-6, prepare journal entries to record Johnson Companys journal entries if it pays on November 30. In RE8-6, On October 23,

Using the information from RE8-6, prepare journal entries to record Johnson Company’s journal entries if it pays on November 30.
In RE8-6, On October 23, Johnson Company purchased $100,000 of inventory on credit with payment terms of 1/15, net 45. Using the net price method, prepare journal entries to record Johnson Company’s purchases if it pays on October 31.

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