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QUESTION
Emma Co. sold Isabella Co. merchandise on account FOB shipping point, 2/10, net 30, for $25,000. Emma Co. prepaid the $500 shipping charge.
Emma Co. sold Isabella Co. merchandise on account FOB shipping point, 2/10, net 30, for $25,000. Emma Co. prepaid the $500 shipping charge. Using the perpetual inventory method, which of the following entries will Isabella Co. make if Isabella Co. pays within the discount period?
