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On September 12, Ryan Company sold merchandise in the amount of $9.000 to Johnson Company, with credit terms of 2/10. n/30. The cost of the
On September 12, Ryan Company sold merchandise in the amount of $9.000 to Johnson Company, with credit terms of 2/10. n/30. The cost of the items sold is $5.,600. Johnson uses the periodic inventory system and the net method of accounting for purchases. The journal entry that Johnson will make on September 12 is Multiple Choice Purchases Accounts payable 9,000 9,000 Purchases 8,820 Accounts payable 8,826 Merchandise inventory 8,820 Accounts payable 8,820 Merchandise inventory 5.600 Accounts payable 5,600 Spayable rchandise inventory 9,000 Acc - 008
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