Question

Gadget Palace is a retailer selling unique hardware. Gadget Palace uses a perpetual inventory system. Journalize the following transactions:

July 5 Gadget Palace purchases inventory for sale from Turbo Tools for $11,400 with terms 2/10, n/30.
6 Gadget Palace pays Fast Truck Transport $75 for freight on the July 5 order.
8 Gadget Palace receives a credit memo from Turbo Tools for $215 for damaged merchandise. The merchandise is not returned.
15 Gadget Palace pays Turbo Tools the balance due.

Answer

This answer is hidden. It contains 201 characters.