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Journalize entries for the following related transactions of Lilly Heating & Air Company using the net method under a perpetual inventory system. ( If an

 

Journalize entries for the following related transactions of Lilly Heating & Air Company using the net method under a perpetual inventory system. (If an amount box does not require an entry, leave it blank.)

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a.  Purchased $30,000 of merchandise from Schell Co. on account . Discovered that merchandise with an invoice amount of $6,000 purchased in (a) was defective and returned items, receiving crediting, terms 2/10, n/30.

B.  Paid the amount owed on the invoice. 

C.  Discovered that merchandise with an invoice amount of $6,000 purchased in (a) was defective and returned items, receiving credit.

 
 

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