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On August 1, Gilmore Company purchased merchandise from Hendren with an invoice price of $63,000 and credit terms of 3/10, n/30. Gilmore Company paid Hendren

On August 1, Gilmore Company purchased merchandise from Hendren with an invoice price of $63,000 and credit terms of 3/10, n/30. Gilmore Company paid Hendren on August 11. Prepare any required journal entry(ies) for Gilmore Company (the purchaser) on: (a) August 1, and (b) August 11. Assume Gilmore uses the perpetual inventory method.

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