Travis Company purchased merchandise on account from a supplier for $11,100, terms 2/10, net 30 on December 26. Travis Company paid for the merchandise on December 31, within the discount period.
Required:
Under a perpetual inventory system, record the journal entries required for the above transactions. Refer to the Chart of Accounts for exact wording of account titles.
Record the journal entries on each transaction. Refer to the Chart of Accounts for exact wording of account titles.
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JOURNAL
DATEDESCRIPTIONPOST. REF. DEBITCREDIT
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Answers: 2
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Travis Company purchased merchandise on account from a supplier for $11,100, terms 2/10, net 30 on D...
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