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

question 90

Essay

A company purchased inventory for $2,200 on account,and recorded the following journal entry:
$$\begin{array} { | l | r | r | } \hline \text { Inventory } & 2,200 & \\\hline \text { Accounts payable } & & 2,200 \\\hline\end{array}$$ The vendor's invoice showed terms of 3/10,net 30.Please provide the journal entry for the payment of the invoice on the 7th day (using the perpetual inventory method).
$$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline \\\hline\end{array}$$

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Definitions:

Sleep Diary

A record kept over a period of time that tracks the quantity and quality of one’s sleep to help diagnose sleep disorders.

Sleep-Rest Patterns

Describes the consistency and quality of an individual's periods of sleep and wakefulness over a 24-hour period.

Sleep-Wakefulness Patterns

The cycle of natural rest and activity periods, including deep sleep, REM sleep, and wakefulness, regulated by the body's internal clock.

Daily Routines

Regular activities or habits that make up an individual's typical day, contributing to structure and predictability in daily life.