A company purchased inventory for $2,200 on account,and recorded the following journal entry:
$\begin{array}{|l|r|r|}
\hline \text { Merchandise Inventory } & 2,200 \
\hline \text { Accounts Payable } & & 2,200\
\hline
\end{array}$
The vendor's invoice showed terms of 3/10,n/30.Prepare the journal entry for the purchaser for the payment of the invoice 17 days after the invoice date.Omit explanation.

Question

A company purchased inventory for $2,200 on account,and recorded the following journal entry:
 $\begin{array}{|l|r|r|}
\hline \text { Merchandise Inventory } & 2,200 \
\hline \text { Accounts Payable } & & 2,200\
\hline 
\end{array}$
 The vendor's invoice showed terms of 3/10,n/30.Prepare the journal entry for the purchaser for the payment of the invoice 17 days after the invoice date.Omit explanation.

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The Answer of A company purchased inventory for $2,200 on account,and recorded the following journal entry:
 $\begin{array}{|l|r|r|}
\hline \text { Merchandise Inventory } & 2,200 \
\hline \text { Accounts Payable } & & 2,200\
\hline 
\end{array}$
 The vendor's invoice showed terms of 3/10,n/30.Prepare the journal entry for the purchaser for the payment of the invoice 17 days after the invoice date.Omit explanation.

A Company Purchased Inventory for $2,200 on Account,and Recorded the Following