Question: Question 13 3.33 points Save Answer Dawn Company uses a perpetual inventory system made a purchase of merchandise on credit from Wagne Corporation on August
Question 13 3.33 points Save Answer Dawn Company uses a perpetual inventory system made a purchase of merchandise on credit from Wagne Corporation on August 3, for $7,000, terms 2/10, n/45. On August 10, Dawn makes the appropriate payment to Wagne. The entry on August 10 for Dawn Company is 7,000 Accounts Payable......... Purchase Returns and Allowances.. Cash......... 140 DA *** 6,860 Accounts Payable.......... ********** 7,000 Cash........... 7,000 B Accounts Payable... 6,860 Cash.............. 6,860 Accounts Payable.... 7,000 140 Inventory...... Cash 6,860 OD
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