Question

Donna’s Beauty Salon had the following transactions for July: July 9: Purchased 625 units of inventory...

Donna’s Beauty Salon had the following transactions for July: July 9: Purchased 625 units of inventory at $6 per unit. The seller offered a cash discount of 2/10, n/30. July 10: Returned 30 defective units and received full credit. July 18: Paid the amount in full, less the returned items.

Instructions: Prepare journal entries to record each of the preceding transactions. Assume a perpetual inventory system. I

nclude the following details in each entry:

Date______

Account Title and Explanation_____

Debit____

Credit____

Business   Accounting   
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