Business, 17.03.2020 02:01 Anonymous7170

A company purchased $2,900 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $750 worth of merchandise. On July 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 12 is:

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A company purchased $2,900 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $7...

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