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Meteor Co. purchased merchandise on March 4, 2021, at a price of $30,000, subject to credit terms of 2/10, n/0. Meteoses the method for recording
Meteor Co. purchased merchandise on March 4, 2021, at a price of $30,000, subject to credit terms of 2/10, n/0. Meteoses the method for recording purchases and uses a periodic 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 March 11, 2021 and April 2, 2021. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 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.) View transaction list Journal entry worksheet Record the purchase of merchandise subject to credit terms 2/10, n/30. Note: Enter debits before credits. Date March 04, 2021 General Journal Debit Credit Req 1 Req 2 and 3 Prepare the journal entries to record the appropriate payment if the entire Invoice is paid on March 11, 2021 and April 2, 2021 (1) entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 Record the payment on March 11, 2021 Note: Enter debits before credits. Date March 11, 2021 General Journal Debit Credit Record entry Clear entry View general Journal Journal entry worksheet < 1 2 Record the payment on April 02, 2021 Note: Enter debits before credits. Date April 02, 2021 General Journal Debit Credit Record entry Clear entry View general journal
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