A company using the perpetual inventory system purchased inventory worth $12.000 on account with credit terms of 1/15, 30 Detective inventory was received, but instead of a return, an allowance of given. The allowance is granted before the invoice is paid.

 What would be the journal entry to record the payment after the allowance and within the discount period?

Answer rating: 100% (QA)

Answer To record the payment after the allowance and within the discount period for inventory ... View the full answer