Rescue Sequences LLC purchased inventory by issuing a $30,000, 60-day, non-interest bearing note on October 1. Assume that the note is discounted at a 15% rate.

	Required:
	Prepare the journal entries for Rescue Sequences to record the purchase and payment assuming it uses a perpetual inventory system and a 360-day calendar fiscal year.

General Journal

Prepare the journal entries for Rescue Sequences to record the purchase and payment assuming it uses a perpetual inventory system and a 360-day calendar fiscal year.

General Journal Instructions

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GENERAL JOURNAL

	DATE	ACCOUNT TITLE	POST. REF.	DEBIT	CREDIT
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