Madam Co , a women 's clothing store, purchased ( $ 10,000 ) of merchandise from a supplier on account, terms FOB destination, 2 10, n 30 Madam Co returned ( $ 2,500 ) of the merchandise, receiving a credit memorandum, and then paid the amount due within the discount period Journalize Madam Co 's e...

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Madam Co., a women's clothing store, purchased ($ 10,000) of merchandise from a supplier on account, terms

Question:

Madamé Co., a women's clothing store, purchased $\$ 10,000$ of merchandise from a supplier on account, terms FOB destination, 2/10, n/30. Madamé Co. returned $\$ 2,500$ of the merchandise, receiving a credit memorandum, and then paid the amount due within the discount period. Journalize Madamé Co.'s entries to record

(a) the purchase,

(b) the merchandise return, and

(c) the payment.

obj. 3

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