Some of the transactions of Bramble Company during August are listed below. Bramble uses the periodic inventory method.

August $10$ Purchased merchandise on account, $$11,100,$ terms $\frac{2}{10},\frac{n}{30}.$

$13$ Returned part of the purchase of August $10,$$$1,200,$ and received credit on acco

$15$ Purchased merchandise on account, $$15,700,$ terms $\frac{1}{10},\frac{n}{60}.$

$25$ Purchased merchandise on account, $$19,300,$ terms $\frac{2}{10},\frac{n}{30}.$

$28$ Paid invoice of August $15$ in full.

Assuming that purchases are recorded at net amounts and that discounts lost are treated as financial expenses:

Prepare the adjusting entry necessary on August $31$ if financial statements are to be prepared at that time. $($If no entry is required, select $"$No entry" for the account titles and enter $0$ for the amounts. Credit accoun' titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry.$)$

Date Account Titles and Explanation

Debit

Aug. $31$

Purchase Discounts Lost

Accounts Payable