Kieth Printing purchased $8,000 of supplies from Paul's Wholesale, terms 2/10, n/30 on July 25, and prepared voucher #611. Kieth paid the voucher on July 31.
Required: Prepare journal entries to record the above transactions assuming Kieth uses the net method and the periodic inventory system for recording purchases.

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The Answer of Kieth Printing purchased $8,000 of supplies from Paul's Wholesale, terms 2/10, n/30 on July 25, and prepared voucher #611. Kieth paid the voucher on July 31.
Required: Prepare journal entries to record the above transactions assuming Kieth uses the net method and the periodic inventory system for recording purchases.

Kieth Printing Purchased $8,000 of Supplies from Paul's Wholesale, Terms