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Consider the following transactions for Funtime Gadgets:

July 5 Funtime Gadgets buys $149,800 worth of merchandise from Gadget Warehouse on account with credit terms of 2/10, n/30.

July 11 Funtime Gadgets returns $14,900 of the merchandise to Gadget Warehouse due to damage during shipment.

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

Journalize the purchase transactions.

Journal
DateDescriptionDebitCredit
July 5
July 5
July 11
July 11
July 17
July 17
July 17

Finally, how much did the inventory cost Funtime Gadgets?

$

 


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