A company had the following transactions during January:
Jan.2 Purchased merchandise,invoice price of $20,000,with terms 2/10,n/30.
4 Received a credit memorandum for $4,000,the invoice price on merchandise returned
from the purchase of January 2.
12 Purchased merchandise,invoice price of $15,000,with terms 3/15,n/30.
26 Paid for the merchandise purchased on January 12.
30 Paid for the merchandise purchased on January 2.
Using the net method of recording purchases,prepare the journal entries to record these January transactions.

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The Answer of A company had the following transactions during January:
Jan.2 Purchased merchandise,invoice price of $20,000,with terms 2/10,n/30.
4 Received a credit memorandum for $4,000,the invoice price on merchandise returned
from the purchase of January 2.
12 Purchased merchandise,invoice price of $15,000,with terms 3/15,n/30.
26 Paid for the merchandise purchased on January 12.
30 Paid for the merchandise purchased on January 2.
Using the net method of recording purchases,prepare the journal entries to record these January transactions.

A Company Had the Following Transactions During January