Business, 21.01.2021 23:00 shongmadi77

A company purchased $2,600 of merchandise on July 5 with terms 3/10, n/30. On July 7, it returned $600 worth of merchandise. On July 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 12 is:

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A company purchased $2,600 of merchandise on July 5 with terms 3/10, n/30. On July 7, it returned $6...