Business, 25.01.2020 04:31 austinwst3
Based on the following information, what would be recorded as purchases discount if the invoice is paid within the discount period?
1. $5,000 of merchandise inventory was ordered on april 2, 2016.
2. $2,000 of this merchandise was received on april 5, 2016.
3. on april 6, 2016, an invoice dated april 4, 2016, with terms of 2/10, net 30 for $2,150 which included a $150 prepaid freight cost, was received.
4. on april 10, 2016, $500 of the merchandise was returned to the seller.
Answers: 3
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Based on the following information, what would be recorded as purchases discount if the invoice is p...
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