Your company sent a purchase order to Best Supplier Inc for 10 of Inventory Item...
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Accounting
Your company sent a purchase order to Best Supplier Inc for 10 of Inventory Item A at a cost of $5 each. Your company received 5 of them the following week along with the related bill. What journal entry was made when the bill was entered. They don't have "purchase" or "bills payable" But which is inventory or cost of good sold, or hand on supplies for debit?
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