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Consider the following transactions for Funtime Gadgets:

October 8 Funtime Gadgets buys $148,800 worth of merchandise from Gadget Warehouse on account with credit terms of 2/10, n/30.

October 12 Funtime Gadgets returns $13,800 of the merchandise to Gadget Warehouse due to damage during shipment.

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

Journalize the purchase transactions.

Journal
DateDescriptionDebitCredit
October 8
October 8
October 12
October 12
October 19
October 19
October 19

Finally, how much did the inventory cost Funtime Gadgets?

$

 


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