Regal Spas, Inc., purchased $11,800 worth of inventory from the Pool Palace on account, terms of 2/10,

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Regal Spas, Inc., purchased $11,800 worth of inventory from the Pool Palace on account, terms of 2/10, n/30. Some of the goods are damaged in shipment, so Regal Spas, Inc., returns $2,300 of the merchandise to the Pool Palace.

Journalize the following transactions for Regal Spas, Inc. Explanations are not required.

a. Purchase of the goods

b. Return of the damaged goods

c. Payment for the goods within the discount period?

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Financial Accounting

ISBN: 978-0134436111

4th edition

Authors: Robert Kemp, Jeffrey Waybright

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Question Posted: Nov 17, 2017 08:56 AM

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Regal Spas, Inc., purchased $11,800 worth of inventory from the Pool Palace on account, terms of 2/10,

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Journal DATE ACCOUNTS POST Dr Cr REF a Inve...View the full answer

Financial Accounting

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