Question
A company purchased $3,800 of merchandise on July 5 with terms 3/10, n/30. On July 7, it returned $900 worth of merchandise. On July 12,
A company purchased $3,800 of merchandise on July 5 with terms 3/10, n/30. On July 7, it returned $900 worth of merchandise. On July 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 12 is:
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Lean Audit The 20 Keys To World Class Operations A Health Check For Factory And Office
Authors: Joerg Muenzing
1st Edition
1514817829, 978-1514817827
