Author Question: On June 15, Paradise Park purchased merchandise for the race track. The invoice was for $4,500, ... (Read 53 times)

bcretired · **on:** Nov 11, 2019

On June 15, Paradise Park purchased merchandise for the race track. The invoice was for $4,500, terms 2/10, n/30. On June 20, Paradise Park returned $200 of merchandise for credit. On June 25, it paid the amount owed. Fill in the blanks below.

a.	The debit to Purchases on June 15 is ________.

b.	The credit to Accounts Payable on June 15 is ________.

c.	The credit to Purchases Returns and Allowances on June 20 is ________.

d.	The credit to Cash on June 25 is ________.

e.	The credit to Purchases Discount on June 25 is ________.

covalentbond · **Reply #1 on:** Nov 11, 2019

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