McIntyre Company Made a Purchase of Merchandise on Credit from Marvin

Short Answer

McIntyre Company made a purchase of merchandise on credit from Marvin Company on August 8 for $11000 terms 3/10 n/30. On August 17 McIntyre makes the appropriate payment to Marvin. The entry on August 17 for McIntyre Company is: d.
$\begin{array}{lrr} \text { Accounts Payable} &11,000\\ \text { Inventory} &&330\\ \text {Cash } &&10,670\end{array}$