Homework Help: accounting-explain

Posted by Thara on Sunday, August 15, 2010 at 10:03pm.

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 - bobpursley, Sunday, August 15, 2010 at 10:05pm
Are you certain it is not a typo? $850?
accounting-explain - Thara, Sunday, August 15, 2010 at 10:15pm
this is a practice and i typed exactly how its written on the question adn answer...:-S...
accounting-explain - Thara, Sunday, August 15, 2010 at 10:26pm
:S
to: Bobpursley - Thara, Sunday, August 15, 2010 at 10:41pm
hi...sry...i just got a msg from my professor...he made a mistake and that $250 is $850...thnx... :-)

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