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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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8 years ago
A company purchased inventory for $2,200 on account, and recorded the following journal entry:

Merchandise Inventory   2,200   
       Accounts payable      2,200

The vendor's invoice showed terms of 3/10, n/30. Give the journal entry for the payment of the invoice 17 days after the invoice date.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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TanksTanks
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H3Ko Author
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7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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