The inventory received on a purchase order was paid for within 20 days of the purchase. Payment terms on invoice were 2% 10, Net 30. 1. DR A/C #20000 Accounts Payable CR A/C #10100 Checking CR A/C #54599 s Discounts Taken 2. DR A/C #20000 Accounts Payable CR A/C #50100 Cost of Goods Sold 3. DR A/C# 20000 Accounts Payable CR A/C #10100 Checking 4 DR A/C #50100 Cost of Goods Sold CR A/C #10100 Checking