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Consider the following transactions for Funtime Gadgets:

July 4 Funtime Gadgets buys $148,200 worth of merchandise from Gadget Warehouse on account with credit terms of 2/10, n/30.

July 11 Funtime Gadgets returns $14,100 of the merchandise to Gadget Warehouse due to damage during shipment.

July 19 Funtime Gadgets paid the amount due, less the return and discount.

Journalize the purchase transactions.

Journal
DateDescriptionDebitCredit
July 4
July 4
July 11
July 11
July 19
July 19
July 19

Finally, how much did the inventory cost Funtime Gadgets?

$

 


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