Prepare the General Journal Entries to Record the Following Transaction

Essay

Prepare the general journal entries to record the following transaction. All purchases are on account and subject to terms of 2/10, n/30. The perpetual inventory method is in use.
May 5 Purchased merchandise from the Jackson Inc. with a price of $17,000.
May 9 Returned $1,500 worth of merchandise to Jackson Inc.
May 14 Paid the amount due to Jackson Inc.
-Prepare the general journal entry for the May 14 transaction. __________________________________________ __________ __________
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