A company purchased inventory for $2,200 on account, and recorded the following journal entry: The vendor's invoice showed terms of 3/10, n/30. Give the journal entry for the payment of the invoice 17 days after the invoice date.

Question

A company purchased inventory for $2,200 on account, and recorded the following journal entry:  The vendor's invoice showed terms of 3/10, n/30. Give the journal entry for the payment of the invoice 17 days after the invoice date.

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The Answer of A company purchased inventory for $2,200 on account, and recorded the following journal entry:  The vendor's invoice showed terms of 3/10, n/30. Give the journal entry for the payment of the invoice 17 days after the invoice date.

A Company Purchased Inventory for $2,200 on Account, and Recorded