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The Catfish House uses the net method to record purchasesThey have an invoice for $8,000 that has terms of 3/10n/30. They pay the invoice on
The Catfish House uses the net method to record purchasesThey have an invoice for $8,000 that has terms of 3/10n/30. They pay the invoice on the 20th dayWhat would be the journal entry to record this payment? Accounts Payable $7,760 Cash7,760 Accounts Payable 8.000 Cash $8,000 Accounts Payable $7,760 Discounts Lost $240 Cash $8,000 Food Inventory $8,000 Cash $ 8,000
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