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Taos Company purchased merchandise for resale from Tuscon Company with an invoice price of $20,100 and credit terms of 1/10, 1/60. The merchandise had cost

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Taos Company purchased merchandise for resale from Tuscon Company with an invoice price of $20,100 and credit terms of 1/10, 1/60. The merchandise had cost Tuscon $13,708 Taos paid within the discount period Prepare journal entries to record each of the merchandising transactions assuming that the periodic Inventory system is used by both the buyer and the seller. (Leave no cells blank be certain to enter "" wherever required. Omit the "S" sign in your response.) BUYER Taos Company General Journal Debit Credit (Click to select) (Click to select) (Click to select) (Click to select) (Click to select SELLER - Tuscon Company General Journal Dobit Credit (Click to select) (Click to select v (Click to select) (Click to select) (Click to select)

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