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Consider the following transactions for Funtime Gadgets:

October 7 Funtime Gadgets buys $144,400 worth of merchandise from Gadget Warehouse on account with credit terms of 2/10, n/30.

October 9 Funtime Gadgets returns $14,200 of the merchandise to Gadget Warehouse due to damage during shipment.

October 17 Funtime Gadgets paid the amount due, less the return and discount.

Journalize the purchase transactions.

Journal
DateDescriptionDebitCredit
October 7
October 7
October 9
October 9
October 17
October 17
October 17

Finally, how much did the inventory cost Funtime Gadgets?

$

 


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