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Hello Slinky Company purchased merchandise on June 10,2021 , at a price of $39,000, subject to credit terms of 2/10,n/30. Slinky uses the het method
Hello
Slinky Company purchased merchandise on June 10,2021 , at a price of $39,000, subject to credit terms of 2/10,n/30. Slinky uses the het method for recording purchases and uses a perpetual inventory system. Required: 1. Prepare the journal entry to record the purchase. 2. \& 3. Prepare the journal entries to record the appropriate payment if the entire invoice is paid on June 18,2021 and July 8,2021. Complete this question by entering your answers in the tabs below. Prepare the journal entry to record the purchase. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the purchase of merchandise subject to credit terms 2/10,n/30. Note: Enter debits before creditsStep by Step Solution
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