On July 15, a company purchases on account goods costing $3,000 with credit terms of 2/ 10,

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On July 15, a company purchases on account goods costing $3,000 with credit terms of 2/ 10, n/ 30. On July 18, the company 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, assuming a periodic inventory system.

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Accounting Principles

ISBN: 9781119707110

14th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell

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