Avery Company uses the periodic inventory system. On February 1, the corporation purchased inventory on account for $10,000. The terms of invoice were 5/10, n/30. The amount due was paid on February 9. Which of the following journal entries correctly records the payment in the books of Avery Company?

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The Answer of Avery Company uses the periodic inventory system. On February 1, the corporation purchased inventory on account for $10,000. The terms of invoice were 5/10, n/30. The amount due was paid on February 9. Which of the following journal entries correctly records the payment in the books of Avery Company?

Avery Company Uses the Periodic Inventory System