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220 846 Santa Fe Retailing purchased merchandises with no returns from Mesa Wholesale with credit torms 3/10,n/60 and an invoice price of $24,000 The merchandis
220 846 Santa Fe Retailing purchased merchandises with no returns from Mesa Wholesale with credit torms 3/10,n/60 and an invoice price of $24,000 The merchandis ad con Mesa 516,000 tume that both buyer and we use a perpetual inventory system and the gross method 2. Prepare entries that the buyer Santa records for the 2 Prepare entries that the seller Mesa records for the General Journal Debit Credit General Journal Purchase Debit Credit 0 13 12 b.Cah payment within the discount period Cash collation within the discount period 14 G. Chementer the wount period c.Cash collection after the discount period TE 12 16 10 21
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