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Diaz Inc. is a merchandiser which uses the perpetual inventory system. It had the following transactions occur during April: April 15: Purchased inventory costing $2,500
Diaz Inc. is a merchandiser which uses the perpetual inventory system. It had the following transactions occur during April: April 15: Purchased inventory costing $2,500 on account, terms 3/10, n/30 April 25: Paid for the inventory previously purchased on April 15. Required: In the journal below, record these two transactions. Do not include symbols, decimals or cents in the numerical response. Date Debit Credit April 15nventory 2500 Accounts Payable 2500 April 25 Accounts Payable Cash Inventory
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