Conquest Company uses a perpetual inventory system. Conquest purchased $1,500 of merchandise on account and payment was made within the discount period. The credit terms were 2/10,n/30. Journalize Conquest’s purchase and payment
Darshita Changed status to publish February 17, 2020
| No: | Detail and description | Debit $ | Credit $ |
| (a) | Merchandise Inventory | 1500 | |
| Accounts Payable | 1500 | ||
| (b) | Accounts Payable | 1500 | |
| Cash | 1470 | ||
| Merchandise Inventory | 30 |
Darshita Changed status to publish February 17, 2020
