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Patty's Pet Store purchased merchandise on October 10, 2021, at a price of $35,000, subject to credit terms of 2/10, n/30. Patty's uses the gross
Patty's Pet Store purchased merchandise on October 10, 2021, at a price of $35,000, subject to credit terms of 2/10, n/30. Patty's uses the gross method for recording purchases and uses perpetual inventory system. Required: 1. Prepare the journal entry to record the purchase. 2. Prepare the journal entry to record the payment of one-half the invoice amount on October 18, 2021. 3. Prepare the journal entry to record the payment of the balance of the amount due on November 8, 2021. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 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. General Journal Debit Credit Date October 10, 2021
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