Business
Business, 17.10.2019 23:30, lee1817

X-mart uses the perpetual inventory system to account for its merchandise. on may 1, it purchased $400 of merchandise on account with terms of 2/15, n/40. on may 3, x-mart returned $50 of merchandise due to defect. assuming that the purchase was paid for within the discount period, demonstrate the required journal entry for x-mart to record the payment

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X-mart uses the perpetual inventory system to account for its merchandise. on may 1, it purchased $4...

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