2. Santa Fe paid within the discount period.

1. Santa Fe Company purchased merchandise for resale from Mesa Company with an invoice price of $20,500 and credit terms of 3/10, n/60.

2. The merchandise had cost Mesa $13,981.

3. Santa Fe paid within the discount period.

Santa Fe Company purchased merchandise for resale from Mesa Company with an invoice price of $20,500 and credit terms of 3/10, n/60. The merchandise had cost Mesa $13,981. Santa Fe paid within the discount period. Assume that both buyer and seller use a perpetual inventory system. 1. Prepare the entries that Santa Fe should record for the above transactions. view transaction list view general journal Journal Entry Worksheet 12 Santa Fe Company purchased merchandise for resale from Mesa Company with an invoice price of $20,500 and credit terms of 3/10, n/60. Debit Credit Transaction General Journal *Enter debits before credits done clear entry record entry