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Determine the total amount paid to green

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Reference no: EM13884760

Purchases Involving Discounts: perpetual Inventory system

Linear Company engaged in the following transactions:

July 2 Purchased merchandise on credit from Green Company, terms 2/10, n/30, FOB destination, invoice dated July 1, $2,000.

6 Returned some merchandise to Green for full credit, $250.

11 Paid Green for purchase of July 2 less return and discount.

14 Purchased merchandise on credit from Green, terms 2/10, n/30, FOB destination, invoice dated July 12, $2,250.

31 Paid amount owed Green for purchase of July 14.

Prepare journal entries and, assuming the perpetual inventory system, determine the total amount paid to Green.

Reference no: EM13884760

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