Question
These 3 entries are related. (a) We bought $4,000 of Merchandise inventory on account with the terms of 2/10,n/30. _________________________________ ______________ _________________________________ ______________ _________________________________ ______________
These 3 entries are related. (a) We bought $4,000 of Merchandise inventory on account with the terms of 2/10,n/30. _________________________________ ______________
_________________________________ ______________ _________________________________ ______________ (b) Assume we paid the above bill in time to take the cash discount. ___________________________________ _______________ ___________________________________ _______________ (c) Assume we failed to pay the bill in time to take the cash discount, but we did pay the bill in full at a later time with no penalty. __________________________________ ______________ __________________________________ ______________
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