A company purchased inventory for $100,000 on account,and recorded it as follows:
The vendor's invoice showed terms of 3/10,net 30.Give the journal entry for the payment of the invoice seven days after the invoice date,assuming that the vendor uses the perpetual inventory system.

Question

A company purchased inventory for $100,000 on account,and recorded it as follows:
  The vendor's invoice showed terms of 3/10,net 30.Give the journal entry for the payment of the invoice seven days after the invoice date,assuming that the vendor uses the perpetual inventory system.

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The Answer of A company purchased inventory for $100,000 on account,and recorded it as follows:
  The vendor's invoice showed terms of 3/10,net 30.Give the journal entry for the payment of the invoice seven days after the invoice date,assuming that the vendor uses the perpetual inventory system.

A Company Purchased Inventory for $100,000 on Account,and Recorded It