A corporation which uses a perpetual inventory syste, purchased $3,000 of merchandise on account on July 5. Credit terms were 2/10, n/30. The compnay returend $600 of the merchandise on July 9th. The company paid off the bill on July 11. The amoutn credited to inventory to record the payment would equal $_________ (Expressed in whole dollars)

A corporation which uses a perpetual inventory syste, purchased $3,000 of merchandise on account on July 5. Credit terms were 2/10, n/30. The compnay returend $600 of the merchandise on July 9th. The company paid off the bill on July 11. The amoutn credited to inventory to record the payment would equal $_________ (Expressed in whole dollars)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Hello, I'm unsure how to do en entries for this question
Gg.24.
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