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Requirement 3. Journalize the payment on October 1, 2018, to Otis Distribution, Inc. Do not round numbers to the nearest whole dollar. (Record debits first,
Requirement 3. Journalize the payment on October 1, 2018, to Otis Distribution, Inc. Do not round numbers to the nearest whole dollar. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Round all calculations to the nearest cent.) Date Accounts and Explanation Oct. 1 Accounts Payable Cash Merchandise Inventory Paid within discount period. Debit Credit Figure Otis Distribution, Inc. 7290 S. Prospect Street Ravenna, OH 44266 Invoice date: September 23, 2018 Sold to: Wilcox Tires 6678 Diamond Avenue Ravenna, OH 44266 Description D39-X4 Radials M223 Belted-bias Q92 Truck tires Total Due date: October 3, 2018 October 4 through October 23, 2018 Payment terms: 1/10, n/30 Quantity Shipped Price Amount 2 $34.86 $69.72 7 $40.45 $283.15 10 $56.34 $563.40 $916.27 Amount: $907.11 $916.27
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