On June $5,$ Staley Electronics purchases $190$ units of inventory on account for $$20$ each, with terms $\frac{1}{10},\frac{n}{30}.$ Staley pays for the inventory on June $12.$

Required:

Record transactions for the purchase of inventory on account and payment on account using a perpetual system. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

$(1)2$

Record the payment on account.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$June $12,,,],[,,,],[,,,],[,,,],[,,,]]$

On June $5,$ Staley Electronics purchases $190$ units of inventory on account for $$20$ each, with terms $\frac{1}{10},\frac{n}{30}.$ Staley pays for the inventory on June $12.$

$2.$ Assume payment is made on June $22.$ Record the payment on account assuming the company uses a perpetual inventory system. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

$1$

Record the payment on account.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$June $22,,,],[,,,],[,,,],[,,,],[,,,$f$],[,,,]]$