Goods costing $1,900 are purchased on account on July 15 with credit terms of 2/10, n/30. On

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Goods costing $1,900 are purchased on account on July 15 with credit terms of 2/10, n/30. On July 18 the purchaser receives a $200 credit memo from the supplier for damaged goods. Give the journal entry on July 24 to record payment of the balance due within the discount period.

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Financial Accounting Tools for Business Decision Making

ISBN: 978-0470239803

5th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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