Gadget Palace is a retailer selling unique hardware. Gadget Palace uses a perpetual inventory system. Journalize the following transactions:
On July 5, Gadget Palace purchases inventory for sale from Turbo Tools for $11,400.00 with terms 2/10, n/30.On July 6, Gadget Palace pays Fast Truck Transport $75.00 for freight in on the July 5 order.On July 8, Gadget Palace receives a credit memo from Turbo Tools for $215.00 for damaged merchandise.On July 15, Gadget Palace pays Turbo Tools the balance due.

Question

Gadget Palace is a retailer selling unique hardware. Gadget Palace uses a perpetual inventory system. Journalize the following transactions:
On July 5, Gadget Palace purchases inventory for sale from Turbo Tools for $11,400.00 with terms 2/10, n/30.On July 6, Gadget Palace pays Fast Truck Transport $75.00 for freight in on the July 5 order.On July 8, Gadget Palace receives a credit memo from Turbo Tools for $215.00 for damaged merchandise.On July 15, Gadget Palace pays Turbo Tools the balance due.​

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The Answer of Gadget Palace is a retailer selling unique hardware. Gadget Palace uses a perpetual inventory system. Journalize the following transactions:
On July 5, Gadget Palace purchases inventory for sale from Turbo Tools for $11,400.00 with terms 2/10, n/30.On July 6, Gadget Palace pays Fast Truck Transport $75.00 for freight in on the July 5 order.On July 8, Gadget Palace receives a credit memo from Turbo Tools for $215.00 for damaged merchandise.On July 15, Gadget Palace pays Turbo Tools the balance due.​

Gadget Palace Is a Retailer Selling Unique Hardware