ABC Company is a trading company and uses a perpetual inventory system. ABC Company buys and sells computers. ABC Company uses the gross invoice price method to record purchases. The company performed the following transactions in April:

April 3 Purchased 120 computers from a supplier for the account. The billing price for each computer unit was $100. Conditions of purchase were 3/10, n/60.

April 7 Sold 60 of these computers for $200 per computer unit. Loan terms were 1/9, n/30.

April 10 Accounts payable to supplier has been paid.

 Record computer purchase on April 3 in ABC Company's general journal

Answer rating: 100% (QA)

The journal entry to record the computer purchase on April 3 in ABC Companys general journal would ... View the full answer