Purchase-related transactions Stylon Co., a women's clothing store, purchased $25,000 of merchandise from a supplier on account, terms FOB destination, 1/10, n/30. Stylon returned merchandise with an invoice amount of $3,500, receiving a credit memo. a. Journalize Stylon's entry to record the purchase. If an amount box does not require an entry, leave it blank. Inventory Accounts Payable Feedback Check My Work a. A purchase increases Inventory and Accounts Payable. Accounts Payable b. Journalize Stylon's entry to record the merchandise return. If an amount box does not require an entry, leave it blank. Inventory Feedback Accounts Payable A 24,750 X Cash Check My Work b. A return reduces Inventory and Accounts Payable in the purchaser's records. Inventory c. Journalize Stylon's entry to record the payment within the discount period of 10 days. If an amount box does not require an entry, leave it blank. Feedback 3,465 X 24,750 X Accounts Payable Cash 21,285 X 210 X 3,465 X Check My Work c. The amount paid is the balance in Accounts Payable. The discount is credited against the Inventory because it reduces the cost. 2,150 X 21,285 d. Journalize Stylon's entry to record the payment beyond the discount period of 10 days. If an amount box does not require an entry, leave it blank. 215 X

Purchase-rebated transactions Stylon Co, a women's clothing store, purchased $25,000 of merchandise from a supplier on account, terms foB idestiriation, 1/10,n/30. stylon retumed menchandise with an invoice amount of $3,500, receiving a credit memo. a. Journalize Stylon's entry to record the purchase. If an amount box does not require an entry, leave it blank. a. A purchase increases Inventory and Accounts Payable. b. Joumalize Stylon's entry to record the merchandise retum. If an amount box does not require an entry, leave it blank. Feedeuch roheck My Wor b. A return reduces Inventory and Accounts Payable in the purchaser's records: c. Joumalize Stylon's entry to record the payment within the discount period of 10 days. If an amount box does not require an entry, leave it blank: Toneck My Work c. The amount paid is the balance in Accounts Payable. The discount is credited against the Inventory because it reduces the cost. 5. Joumalize Stylon's entry to record the payment beyond the discount period of 10 days. If an amount box does not require an entry. eave it blank