Prepare the journal entry to record the purchase

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Reference no: EM133928415

Problem

Slinky Company purchased inventory on June 10 at a price of $20,000, subject to credit terms of 210/ , n30/. Slinky uses the net method for recording purchases and uses a perpetual inventory system. Get the instant assignment help. Prepare the journal entry to record the purchase. Prepare the journal entries to record the appropriate payment if the entire invoice is paid on June 18 and July 8.

Reference no: EM133928415

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