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Tonya's Market recorded the following events involving a recent purchase of inventory Purchased goods for $95,000, terms 2/10, n/30. Returned $1,600 of the shipment
Tonya's Market recorded the following events involving a recent purchase of inventory Purchased goods for $95,000, terms 2/10, n/30. Returned $1,600 of the shipment for credit. Paid $400 freight on the shipment. Paid the invoice within the discount period. Sold half of the goods received for a total of $70,000, terms 1/15, n/45 to Stan's Market Provided a 3% allowance to Stan's Market for returned goods. Record the journal entries for the above transactions, omitting journal entry descriptions. Tonya's Market uses the periodic inventory method Edit Format Table 12 Paragraph BIU
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