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accounting-explain

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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!

  • accounting-explain -

    Are you certain it is not a typo? $850?

  • accounting-explain -

    this is a practice and i typed exactly how its written on the question and answer...:-S...

  • accounting-explain -

    :S

  • to: Bobpursley -

    hi...sry...i just got a msg from my professor...he made a mistake and that $250 is $850...thnx... :-)

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