Reid Art Supply Company Uses a Perpetual Inventory System $$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline \\\hline\end{array}$$

question 32

Essay

Reid Art Supply Company uses a perpetual inventory system.The company had the following transactions during August,2012:
Aug.5 Reid Company purchased $2,900 of merchandise on account.Freight and credit terms were FOB shipping point,3/15,n/60.
Aug.9 Reid Company paid transportation costs of $440 for the Aug.5 purchase.
Aug.10 Reid Company returned $600 of defective merchandise that had been purchased on Aug.5.
Aug.15 Reid Company paid for the merchandise purchased on Aug.5.
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Please provide the journal entry on Aug.15.
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Definitions:

Health Promotion Activities

Actions aimed at improving general well-being and preventing illness, such as exercise, healthy eating, and smoking cessation.

Immunizations

The process of making a person immune or resistant to an infectious disease, typically by the administration of a vaccine.

Influenza Vaccine

A vaccine that protects against the influenza virus, recommended annually to prevent flu-related complications.

Reality Orientation

Therapeutic modality for restoring an individual's sense of the present.