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Stylon Co., a women's clothing store, purchased $48.000 of merchandise from a supplier on account, terms FOB destination, 20 30 using the net method under
Stylon Co., a women's clothing store, purchased $48.000 of merchandise from a supplier on account, terms FOB destination, 20 30 using the net method under a perpetual inventory system Stylon returned merchandise with an invoice amount of $7,500, receiving a creat memo Joumatice Stylon's entries to record (a) the purchase, (b) the merchandise retum, (c) the payment within the cow period of 10 days and come payment beyond the discount period of 10 days Refer to the Chart of Accounts for exact wording of accounties. For grading purposes we December 31 as Me date for at transions
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