On June 15,Pinky Park purchased merchandise for the race track.The invoice was for $5,000,terms 2/10,n/30.On June 20,Paradise Park returned $200 of merchandise for credit.On June 25,it paid the amount owed.Fill in the blanks below.
a)The debit to Purchases on June 15 is ________.
b)The credit to Accounts Payable on June 15 is ________.
c)The credit to Purchases Returns and Allowances on June 20 is ________.
d)The credit to Cash on June 25 is ________.
e)The credit to Purchases Discount on June 25 is ________.
Correct Answer:
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b...
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