Business, 30.10.2019 01:31 ziaa9690

Piere imports uses the perpetual system in accounting for merchandise inventory and had the following transactionsduring the month of october. prepare entries to record these transactions assuming that piere imports records invoices (a)at gross amounts and (b) at net amounts. oct 2 purchased merchandise at a $3,000 price, invoice dated october 2, terms 2/10, n/ 30.10 received a $500 credit memorandum (at full invoice price) for the return of merchandise that it purchased on october217 purchased merchandise at a $5,400 price, invoice dated october 16, terms 2/10, n/30.26 paid for the merchandise purchased on october 17, less the discount31 paid for the merchandise purchased on october 2 payment was delayed because the invoice was mistakenly filed forpayment today. this error caused the discount to be lost

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Piere imports uses the perpetual system in accounting for merchandise inventory and had the followin...

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