This is the same transaction as Question 5. This time, you're recording the transaction for the purchaser (Carter).

Abbott Industries sold $8,000 worth of merchandise to Carter Stores on 9/10, on account. The terms were 2%/10, net 30. Carter paid the amount due on the invoice on 9/18.

Use the table to record the payment on Carter's books. Enter debits as positive numbers and credits as negative numbers (e.g., a credit of $60 would be entered as -60). You must enter 0 in the Amount field if the account would not be included in the entry. (Use commas, no $ signs)HINT:Try writing the journal entry out on a piece of paper first. Debits are entered as positive numbers; credits as negative numbers.

Account	Amount
Cash
Accounts receivable
Merchandise inventory
Accounts payable
Revenue
Sales discounts
Cost of goods sold

This is the same transaction as Question 5. This time, you're recording the transaction for the purchaser (Carter).

Abbott Industries sold $8,000 worth of merchandise to Carter Stores on 9/10, on account. The terms were 2%/10, net 30. Carter paid the amount due on the invoice on 9/18.

Use the table to record the payment on Carter's books. Enter debits as positive numbers and credits as negative numbers (e.g., a credit of $60 would be entered as -60). You must enter 0 in the Amount field if the account would not be included in the entry. (Use commas, no $ signs)HINT:Try writing the journal entry out on a piece of paper first. Debits are entered as positive numbers; credits as negative numbers.

Account	Amount
Cash
Accounts receivable
Merchandise inventory
Accounts payable
Revenue
Sales discounts
Cost of goods sold