Purchases 6,400 Accounts payable 6,400 Merchandise inventory Accounts payable 4,300 4,300 Merchandise inventory 6, 208 Accounts payable 6,208 Accounts payable Merchandise inventory 6,400 6,400...

On September 12, Ryan Company sold merchandise in the amount of $6,400 to Johnson Company, with credit terms of 3/10, n/30. The cost of the items sold is $4,300. Johnson uses theperiodic inventory system and the net method of accounting for purchases. The journal entry that Johnson will make on September 12 is:

Purchases<br>6,400<br>Accounts payable<br>6,400<br>Merchandise inventory<br>Accounts payable<br>4,300<br>4,300<br>Merchandise inventory<br>6, 208<br>Accounts payable<br>6,208<br>Accounts payable<br>Merchandise inventory<br>6,400<br>6,400<br>Purchases<br>6,208<br>Accounts payable<br>6, 208<br>

Extracted text: Purchases 6,400 Accounts payable 6,400 Merchandise inventory Accounts payable 4,300 4,300 Merchandise inventory 6, 208 Accounts payable 6,208 Accounts payable Merchandise inventory 6,400 6,400 Purchases 6,208 Accounts payable 6, 208

Jun 10, 2022

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Purchases 6,400 Accounts payable 6,400 Merchandise inventory Accounts payable 4,300 4,300 Merchandise inventory 6, 208 Accounts payable 6,208 Accounts payable Merchandise inventory 6,400 6,400...

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