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Question 2.5 On April 15 LA Fashion purchased $15,000 of inventory on account. The shirts were purchased on the credit terms 4/10, n/30. LA Fashion

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Question 2.5 On April 15 LA Fashion purchased $15,000 of inventory on account. The shirts were purchased on the credit terms 4/10, n/30. LA Fashion paid for the shirts on 20 April. Record the journal entry for LA Fashion to recognise the payment of the inventory on 20 April (recall that LA Fashion uses the periodic inventory system): Debit: [Select) V $15,000 $ Credit: Cash [Select)

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