The Following Inventory Transactions Occurred at Zapata,Inc $\quad$ $\quad$

question 83

Essay

The following inventory transactions occurred at Zapata,Inc.which uses a perpetual inventory system:
October 2 $\quad$ $\quad$ Purchased 50 units of inventory from a supplier on cre dit. The goods cost $\$ 30$ each and the credit terms were $2 / 10, \mathrm{n} / 15$ The shipping costswere $\$ 100$ under the terms FOB de stination
October 4 $\quad$ $\quad$ Returned 5 units of inventory to the supplier for credit on account.
October 6 $\quad$ $\quad$ Sold 15 units for $\$ 50$ each to customers for cash.
October 7 $\quad$ $\quad$ Accepted a return of one unit of inventory from the customer for a cash refund.
October 11 $\quad$ $\quad$ Paid the supplier for one-half of the inventory purchased on October 2 nd.
October 17 $\quad$ $\quad$ Paid the remaining balence owed to the supplier. Record the appropriate journal entry for each of these transactions.

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Definitions:

Irrigation

The process of cleaning a wound or body part by flushing with water or a medical solution to remove debris and infections.

Nasogastric Irrigant

A solution used to flush or clear a nasogastric tube, which is a tube inserted through the nose down into the stomach.

Adult Patient

An individual receiving medical care who is beyond the age of adolescence and legally considered an adult in their respective jurisdiction.

Nasogastric (NG) Tube

A flexible tube passed through the nose into the stomach for feeding or medication delivery.