Business
Business, 12.07.2019 03:20, sclifton2014

$7,000 of merchandise inventory was ordered on september 2, 2009 2. $3,000 of this merchandise was received on september 5, 2009 3. on september 6, 2009, an invoice dated september 4, 2009, with terms of 3/10, net 30 for $3,250 which included a $250 prepaid freight cost, was received. 4. on september 10, 2009, $800 of the merchandise was returned to the seller. based on the above information, what would be recorded as the cash payment if the invoice is paid within the discount period?
debit to merchandise inventory $800
debit to purchases returns $800
credit to merchandise inventory $800
credit to accounts payable $800

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Answers: 1

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$7,000 of merchandise inventory was ordered on september 2, 2009 2. $3,000 of this merchandise was r...

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