8. Goods costing $2,000 are purchased on account on July 15 with credit terms of 2/10, n/30....

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8. Goods costing $2,000 are purchased on account on July 15 with credit terms of 2/10, n/30. On July 18 the company received a $200 credit from the supplier for damaged goods. Give the journal entry on July 24 to record pay¬

ment of the balance due within the discount period using a perpetual inventory system.

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Financial Accounting

ISBN: 9780470128848

6th Edition

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

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