Goods costing $2,000 are purchased on account on July 1 5 with credit terms of 2/10, n/30.
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Goods costing $2,000 are purchased on account on July 1 5 with credit terms of 2/10, n/30. On July 1 8 a $200 credit memo is received from the supplier lor damaged goods,
(iive the journal entry on July 24 to record payment ol the balance due within the discount period, assuming a periodic inventory system.
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Related Book For
Financial Accounting Text Only
ISBN: 9780006575405
5th Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
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