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16 September, 06:04

Analyze and record transactions for merchandise purchases using a perpetual system Journal Entry A buyer uses a perpetual inventory system, and it purchased $4,000 of merchandise on credit terms of 2/10, n/30 on December 5. Later, on 15, the buyer pays the invoice in full Complete the buyers necessary joumal entry by selecting the account names and dollar amounts from the drop-down menus The order of the account names in the jounal entry must match the ilustration set forth in this module Date Debit 7 or 13

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  1. 16 September, 10:04
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    Dec. 15

    Dr Accounts Payable 4000

    Cr Merchandise Inventory 80 [4000*2% ]

    Cr Cash 3920
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