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#notes-payable
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#purchases
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#accounting
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#inventory
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#journal-entry
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Jan. 2 Purchased merchandise on account from Ally Company, €30,000, terms 2/10,
n/30. (Graves uses the perpetual inventory system.)
Feb. 1 Issued a 6%, 2-month, €30,000 note to Ally.make journal?
Ndayambaje Eric
Feb 16
Jan. 2 Purchased merchandise on account from Ally Company, €30,000, terms 2/10, n/30. (Graves uses the perpetual inventory system.) Feb. 1 Issued a 6%, 2-month, €30,000 note to Ally.make journal?
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Feb 16
Jan. 2:
Accounts Payable - Ally Company 30,000
Merchandise Inventory 30,000
Feb. 1:
Notes Payable 30,000
Accounts Payable - Ally Company 30,000
Accounts Payable - Ally Company 30,000
Merchandise Inventory 30,000
Feb. 1:
Notes Payable 30,000
Accounts Payable - Ally Company 30,000
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