Question
Question 03: (03+03+03+03+03-15 Marks) Post the following transactions into journal: (I) Alpha Company purchased inventory on credit worth $50,000 with the terms 5/20, n/80.
Question 03: (03+03+03+03+03-15 Marks) Post the following transactions into journal: (I) Alpha Company purchased inventory on credit worth $50,000 with the terms 5/20, n/80. (II) If Alpha Company succeeded to pay the amount on due date with the same terms 5/20, n/80. (III) What if Alpha Company failed to pay the amount within discount period. (IV) Let's assume, now Alpha Company sold $75,000 of inventory on credit to Bravo's Incorporation. (V) If the Bravo's Incorporation gave the payment within discount period with the terms as 5/45, n90
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