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journa entires QUESTION 1 terms 2/10 n/30 perpetual inventory system 1 sold merchasdise for $ 9 company cost 4 2 received payment 7 days later

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QUESTION 1 terms 2/10 n/30 perpetual inventory system 1 sold merchasdise for $ 9 company cost 4 2 received payment 7 days later 3 purchased equipment at a cost $ 17 4 closed the wage expense account current balance 5 prepaid insurance related to last fiscal year 53 $ 18

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