April.4 purhcase merchandise from RediX, Inc.,$1900;term 2/10, n/60,FOB shipping point, frieght of $85 added to the invoice.
April 10 returned $850 of merchandise to Redix.Inc.
perpetual invetory:
April 4
(Debit) Inventory $1985
(Credit) Accounts Payable $1985
April 10
(Debit) Accounts Payable $250
(Credit) Inventory $250
What i dnt understand is...how they got the $250....HELP PLZ...thnz!
3 answers
Are you certain it is not a typo? $850?
this is a practice and i typed exactly how its written on the question and answer...:-S...
hi...sry...i just got a msg from my professor...he made a mistake and that $250 is $850...thnx... :-)
1 answer