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Alwyn Company maintains a perpetual inventory system and uses the gross melhod to record purchases. Alwyn Company reported the following transactions. June 2 Purchased $800

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Alwyn Company maintains a perpetual inventory system and uses the gross melhod to record purchases. Alwyn Company reported the following transactions. June 2 Purchased $800 of inventory on account with lerms 2/10,n/30. June 2. Paid shipping of 575 tor the delivery of the inventory. Assume Alwyn Company paid for the June 2 inventory purchase in full on June 10. The entry to record the payment would include: A credit to cash for $784 A credit to purchase discounts for $16 A debit to inventory for $16 A debit to accounts payable for $784

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