Roller Blade Company uses the perpetual inventory system and had the following transactions during October:
$$\begin{array} { | l | l | }
\hline \text { October 6: } & \begin{array} { l }
\text { Purchased } \$ 4,000 \text { of inventory. The seller's } \text { credit terms are } 2 / 10 , \
\text { n/30. }
\end{array} \
\hline \text { October } 8 : & \text { Returned } \$ 200 \text { worth of defective units and received full credit. } \
\hline \text { October } 15 : & \text { Paid the amount due, less the returned items. } \
\hline
\end{array}$$
Prepare journal entries to record each of the preceding transactions.

Question

Roller Blade Company uses the perpetual inventory system and had the following transactions during October:
 $$\begin{array} { | l | l | } 
\hline \text { October 6: } & \begin{array} { l } 
\text { Purchased } \$ 4,000 \text { of inventory. The seller's } \text { credit terms are } 2 / 10 , \
\text { n/30. }
\end{array} \
\hline \text { October } 8 : & \text { Returned } \$ 200 \text { worth of defective units and received full credit. } \
\hline \text { October } 15 : & \text { Paid the amount due, less the returned items. } \
\hline
\end{array}$$ 
Prepare journal entries to record each of the preceding transactions.

Quizplus · Accepted Answer

The Answer of Roller Blade Company uses the perpetual inventory system and had the following transactions during October:
 $$\begin{array} { | l | l | } 
\hline \text { October 6: } & \begin{array} { l } 
\text { Purchased } \$ 4,000 \text { of inventory. The seller's } \text { credit terms are } 2 / 10 , \
\text { n/30. }
\end{array} \
\hline \text { October } 8 : & \text { Returned } \$ 200 \text { worth of defective units and received full credit. } \
\hline \text { October } 15 : & \text { Paid the amount due, less the returned items. } \
\hline
\end{array}$$ 
Prepare journal entries to record each of the preceding transactions.

Roller Blade Company Uses the Perpetual Inventory System and Had