On September 1, Dondra purchased $9,500 of inventory items on credit with the terms 1/15, net 30, FOB destination. Freight charges were $100. Payment for the purchase was made on September 18. Assuming Dondra uses the perpetual inventory system and the net method of accounting for purchase discounts, what amount is recorded as inventory from this purchase?

Answer rating: 100% (QA)

Since the company uses the net uses the net method of accounting for purchase discoun... View the full answer