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Slinky Company purchased inventory on June 10,2024 , at a price of $26,000, subject to credit terms of 4/10,n/30. Slinky uses the net method for
Slinky Company purchased inventory on June 10,2024 , at a price of $26,000, subject to credit terms of 4/10,n/30. Slinky uses the net method for recording purchases and uses a perpetual inventory system. Required: 1. Prepare the journal entry to record the purchase. 2. \& 3. Prepare the journal entries to record the appropriate payment if the entire invoice is paid on June 18,2024 and July 8,2024
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