Question

On September 15, Krug Company purchased merchandise inventory from Makarov with an invoice price of $ 35,000 and credit terms of 2/10, n/30. Schneider Company paid Makarov on September 28. Prepare any required journal entry(ies) for Schneider Company ( the purchaser) on:
(a) September 15,
(b) September 28.
Assume Krug uses the perpetual inventory method.



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  • CreatedNovember 26, 2013
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