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Posting Purchase Transactions On October 2, Sea Toys sold $45,000 of merchandise to Eli Gifts, terms 1/10, n/30. On October 6, Eli Gifts returned $2,000
Posting Purchase Transactions
On October 2, Sea Toys sold $45,000 of merchandise to Eli Gifts, terms 1/10, n/30. On October 6, Eli Gifts returned $2,000 of the merchandise purchased on October 2. On October 12, Eli Gifts paid the balance due to Sea Toys.
Post the transactions to the T-accounts.
Accounts Payable Inventory
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