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KMESZ1252
Mar 22, 2009, 10:10 AM
purchased merchandise from Shimano Inc. for $15000 with credit terms of 1/10, n/30
fuyu1017
Mar 22, 2009, 11:27 AM
The difference between perpetual and periodic is mainly on the purchase, sales, return inward and outward.

In this case, it is a purchase item.
For perpetual, simply Dr Inventory, Cr account payable - Shimano Inc. is ok.