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Goods costing $1,400 are purchased on account on July 15 with credit terms of 3/10, n/30. On July 18, a $200 credit memo is received
Goods costing $1,400 are purchased on account on July 15 with credit terms of 3/10, n/30. On July 18, a $200 credit memo is received from the supplier for damaged goods. Give the journal entry on July 24 to record payment of the balance due within the discount period using a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Date | Account Titles and Explanation | Debit | Credit |
July 15July 24 | |||
Click if you would like to Show Work for this question: | Open Show Work |
SHOW LIST OF ACCOUNTS | ||||
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