Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

تمرين 6

On August 1, Gilmore Company purchased merchandise from Hendren with an invoice price of $60,000 and credit terms of 2/10, n/30. Gilmore Company paid Hendren on August 11. Prepare any required journal entry(ies) for Gilmore Company (the purchaser) on: ( a ) August 1, and ( b ) August 11. Assume Gilmore uses the perpetual inventory method.