Question: Mountainside Bed Mountainside Bed Mountainside Bed Mountainside Bed Mountainside Bed & Breakfast uses the net method to record purchases of food and beverage. The last
Mountainside Bed Mountainside Bed Mountainside Bed Mountainside Bed Mountainside Bed & Breakfast uses the net method to record purchases of food and beverage. The last food order was for $1,500 and the terms were 210,n30. What would be the journal entry when the items are received? Food Inventory $1,500Accounts Payable $1,470Purchase Discounts 30 Food Inventory $1,500Accounts Payable $1,500 Food Inventory $1,500Cash $1,500 Food Inventory $1,470Accounts Payable $1,470
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