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Some of the transactions of Waterway Company during August are listed below. Waterway uses the periodic inventory method. August 10 Purchased merchandise on account, $13,100,
Some of the transactions of Waterway Company during August are listed below. Waterway uses the periodic inventory method. August 10 Purchased merchandise on account, $13,100, terms 2/10,n/30. 13 Returned part of the purchase of August 10, \$1,400, and received credit on account. 15 Purchased merchandise on account, $16,800, terms 1/10,n/60. 25 Purchased merchandise on account, $20,800, terms 2/10,n/30. 28 Paid invoice of August 15 in full. Assuming that purchases are recorded at gross amounts and that discounts are to be recorded when taken: Prepare general journal entries to record the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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