1. Lucretius, Inc. purchases 200 units of inventory from their supplier at $22 per unit....
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Accounting
1. Lucretius, Inc. purchases 200 units of inventory from their supplier at $22 per unit. The inventory purchase includes a $40 shipping fee. The purchase takes place on June 15, 2019, and Lucretius makes the payment on July 7, 2019.
a. Calculate the amount of the purchase.
b. What accounts are debited and credited on June 15?
c. What accounts are debited and credited on July 7?
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