Ask Question
29 April, 03:35

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

+4
Answers (1)
  1. 29 April, 03:50
    0
    Dec. 15

    Dr Accounts Payable 4000

    Cr Merchandise Inventory 80 [4000*2% ]

    Cr Cash 3920
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Analyze and record transactions for merchandise purchases using a perpetual system Journal Entry A buyer uses a perpetual inventory system, ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers