A company that uses the perpetual inventory system purchased merchandise inventory at a cost of $4,300...

 

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A company that uses the perpetual inventory system purchased merchandise inventory at a cost of $4,300 with credit terms 3/15, net 45. If the company elects to pay within the discount period, what would be the appropriate journal entry to record the payment? Accounts Payable Merchandise Inventory 4,300 4,300 Accounts Payable Merchandise Inventory 4.300 129 Cash 4,171 4,300 Merchandise Inventory Accounts Pavable 4.300 4.171 Accounts Payable Cash 4.171 4,171 O Purchase Discount 4.171 Accounts Pavable A company that uses the perpetual inventory system purchased merchandise inventory at a cost of $4,300 with credit terms 3/15, net 45. If the company elects to pay within the discount period, what would be the appropriate journal entry to record the payment? Accounts Payable Merchandise Inventory 4,300 4,300 Accounts Payable Merchandise Inventory 4.300 129 Cash 4,171 4,300 Merchandise Inventory Accounts Pavable 4.300 4.171 Accounts Payable Cash 4.171 4,171 O Purchase Discount 4.171 Accounts Pavable

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Journal entries D... View the full answer