OTA Corporation completed the following events as part of its acquisition / payment process. Record each one in general journal format; if an event does not require a journal entry, write "not applicable."
A. Received request to order 300 units of inventory with an expected cost of $1,400.
B. Purchased inventory on account, $1,500. Terms: 2 / 10, n / 30.
C. Paid freight bill on inbound inventory, $300.
D. Received previously ordered inventory.
E. Returned previously purchased merchandise to supplier, $200.
F. Paid vendor total amount owed on the 15th day after purchase.

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The Answer of OTA Corporation completed the following events as part of its acquisition / payment process. Record each one in general journal format; if an event does not require a journal entry, write "not applicable."
A. Received request to order 300 units of inventory with an expected cost of $1,400.
B. Purchased inventory on account, $1,500. Terms: 2 / 10, n / 30.
C. Paid freight bill on inbound inventory, $300.
D. Received previously ordered inventory.
E. Returned previously purchased merchandise to supplier, $200.
F. Paid vendor total amount owed on the 15th day after purchase.

OTA Corporation Completed the Following Events as Part of Its