Question: there is 7 entries for this problem and I cant figure them out ? Rescue Sequences LLC purchased inventory by Issung a 530 000 60

there is 7 entries for this problem and I cant figure them out ?

them out ? Rescue Sequences LLC purchased inventory by Issung a 530

Rescue Sequences LLC purchased inventory by Issung a 530 000 60 day, non-interest bearing note on October 1 Assume that the note is discounted at a 15% rate Required: Prepare the journal entries for Rescue Sequences to record the purchase and payment assuming it uses a perpelu iventory system and a 360 day calendar focal year General Journal PAGE 1 GENERAL JOURNAL Score: 36/88 DATE POST. REF. DEBIT 1 CREDIT 29,268.29 2 ACCOUNT TITLE Oct. 1 Inventory Accounts Payable Oct. 1 Accounts Payable Discount on Notes Payable 29.268.29 3 29,268.29 4 29.268.29 5 6 7

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