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Sunland Corporation purchases $ 2500 of merchandise on account from Enterprise Company, terms 5/10, n/30. Sunland and Enterprise both use periodic inventory systems. Sunlands entry

Sunland Corporation purchases $ 2500 of merchandise on account from Enterprise Company, terms 5/10, n/30. Sunland and Enterprise both use periodic inventory systems. Sunlands entry record this transaction is:

Accounts Payable 2500 Inventory 2500

Accounts Payable 2500 Purchases 2500

Purchases 2500 Accounts Payable 2500

Inventory 2500 Accounts Payable 2500

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