Intermediate Accounting 1

Eddie records purchases at net amounts and uses the perpetual inventory method. On March 1, it purchased $10,000 of inventory, terms 2/10, n/30. On March 12, Elkins paid the sUpplier. On March 12, Elkins should debit: 0 purchase discount lost for $200. inventory for $200. inventory for $200. 000 cash for $9800