Based on the following information, what would be recorded as purchases discount if the invoice is paid within the discount period? 1 $ \$ 5,000 $ of merchandise inventory $ w $ as ordered on Apri 2, 2010.
2 $ \$ 2,000 $ of this merchandise was received on Apiil 5, 2010.
3 On Apri 6, 2010, an invoice dated Apri 4,2010, with terms of $ 2 / 10 $, net 30 for $ \$ 2,150 $ which included a $ \$ 150 $ prepaid freight cost, was received.

4 On April 10, 2010, \$500 of the merchandise was returned to the seller.

Question

Based on the following information, what would be recorded as purchases discount if the invoice is paid within the discount period? 1 $ \$ 5,000 $ of merchandise inventory $ w $ as ordered on Apri 2, 2010.
2 $ \$ 2,000 $ of this merchandise was received on Apiil 5, 2010.
3 On Apri 6, 2010, an invoice dated Apri 4,2010, with terms of $ 2 / 10 $, net 30 for $ \$ 2,150 $ which included a $ \$ 150 $ prepaid freight cost, was received.

4 On April 10, 2010, \$500 of the merchandise was returned to the seller.

Quizplus · Accepted Answer

The Answer of Based on the following information, what would be recorded as purchases discount if the invoice is paid within the discount period? 1 $ \$ 5,000 $ of merchandise inventory $ w $ as ordered on Apri 2, 2010.
2 $ \$ 2,000 $ of this merchandise was received on Apiil 5, 2010.
3 On Apri 6, 2010, an invoice dated Apri 4,2010, with terms of $ 2 / 10 $, net 30 for $ \$ 2,150 $ which included a $ \$ 150 $ prepaid freight cost, was received.

4 On April 10, 2010, \$500 of the merchandise was returned to the seller.

Based on the Following Information, What Would Be Recorded as Purchases