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Terry Inc. uses the perpetual inventory system. . On July 3, it purchased inventory costing $1,200 on account with terms 2/10, n/30. . On July
Terry Inc. uses the perpetual inventory system. . On July 3, it purchased inventory costing $1,200 on account with terms 2/10, n/30. . On July 6, it returned one-third ('/3) of this inventory back to the supplier. The supplier had not yet been paid for this inventory. On July 10, it paid the supplier the remaining balance owed. Required: In the general journal below, record the July 3rd, 6th, and 10th transactions. Note: Do not use symbols, decimals, or cents in the numerical responses. Date Debit Credit July 3 July 6 T LC July 10
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