Goods costing $2,000 are purchased on account on July 15 with credit terms of 2/10, n/30. On

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Goods costing $2,000 are purchased on account on July 15 with credit terms of 2/10, n/30. On July 18, a $200 credit was received from the supplier for damaged goods. Give the journal entry on July 24 to record payment of the balance due within the discount period, assuming a periodic inventory system.

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Financial Accounting

ISBN: 978-1119491057

8th edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

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