Question - Select Apparel purchased 90 new shirts and recorded a total cost of $2,258 determined as follows:
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Invoice cost
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$1,850
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Shipping charges
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185
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Import taxes and duties
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165
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Interest (6.0%) on $1,800 borrowed to finance the purchase
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108
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$2,258
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Required - Prepare the journal entry to record this purchase in the correct amount, assuming a perpetual inventory system.