On July 15 a company purchases on account goods costing $1,900, with credit terms of 2/10, n/30.

Question:

On July 15 a company purchases on account goods costing $1,900, with credit terms of 2/10, n/30. On July 18 the company receives a $200 credit memo 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.