Shamrock Limited purchased equipment for an invoice price of $45,100, terms 4/10,n/30. Record the purchase...
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Shamrock Limited purchased equipment for an invoice price of $45,100, terms 4/10,n/30. Record the purchase of the equipment and the subsequent payment, assuming the payment was made within the discount period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit (To record purchase of equipment on account) (To record payment on account) Record the purchase of the equipment and the subsequent payment, assuming the company's payment missed the discount period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit (To record purchase of equipment on account) (To record payment on account) (To record discount lost)
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