Travis Company purchased merchandise on account from a supplier for $5,400, terms 2/10, net 30. Travis Company paid for the merchandise within the discount period. Under a perpetual inventory system, journalize (a) the purchase and (b) the paymen made within the discount period.

Travis Company purchased merchandise on account from a supplier for $5,400, terms 2/10, net 30 . Travis Company paid for the merchandise within the discount period. Under a perpetual inventory system, journalize (a) the purchase and (b) the paymer made within the discount period