Goods costing $1,600 are purchased on account on July 15 with credit terms of 2/10, n/30. On

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Goods costing $1,600 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: 9780471730514

4th Edition

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

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