Question
On June 10,Pais Companypurchased $9,000of merchandise fromMcGiver Company, terms3/10, n/30.Pais Companypays the freight costs of $400on June 11. Goods totaling $600are returned toMcGiver Companyfor credit
On June 10,Pais Companypurchased $9,000of merchandise fromMcGiver Company, terms3/10, n/30.Pais Companypays the freight costs of $400on June 11. Goods totaling $600are returned toMcGiver Companyfor credit on June 12. On June 19,Pais CompanypaysMcGiver Companyin full, less the purchase discount. Both companies use a perpetual inventory system.
Prepare separate entries for each transaction on the books ofPaisCompany
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Fundamentals of Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
6th edition
0-07-786223-6, 101259095592, 13: 978-0-07-7, 13978125909559, 978-0077862237
