Question
Record events in journal entries: 1) lawn pro purchased 25 patio furniture sets for later sale at a cost of 12120. the patio furniture sets
Record events in journal entries:
1) lawn pro purchased 25 patio furniture sets for later sale at a cost of 12120. the patio furniture sets were purchased with the terms 2/10, n/30 (at 25 the unit cost is 484.8, if info needed for journal entries)
2) lawn pro decided to pay 6000 of its accounts payable balance from event 1. before the discount period expired, so lawn pro first applied the 2% discount to the 6000 amount. (note: the actual payment is described in even 3.
3) lawn pro paid cash to settle parts of its own accounts payable balance as described in event 2
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