Trudy's Treasure Chest purchased $5,000 of merchandise from Whiskers Collectibles, FOB destination, terms 2/10, n/30. Whiskers pays the freight costs of $300. Whiskers uses a perpetual inventory system.
Prepare separate entries for each transaction for Whiskers. The merchandise purchased by Trudy's Treasure Chest had cost Whiskers $2,900.

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The Answer of Trudy's Treasure Chest purchased $5,000 of merchandise from Whiskers Collectibles, FOB destination, terms 2/10, n/30. Whiskers pays the freight costs of $300. Whiskers uses a perpetual inventory system.
Prepare separate entries for each transaction for Whiskers. The merchandise purchased by Trudy's Treasure Chest had cost Whiskers $2,900.

Trudy's Treasure Chest Purchased $5,000 of Merchandise from Whiskers Collectibles