Essay
On June 3, a company received and recorded a $4,500 invoice for merchandise on which the terms were 2/10, n/60. The company records invoices at net amounts. On June 23, the company discovered that the invoice had been incorrectly filed and the discount lost. Prepare the June 3 general journal entry to record the purchase, the June 23 entry to record the discount lost, and the August 2 entry to record payment of the invoice.
Correct Answer:
Verified
Correct Answer:
Verified
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