Assume Bella Donnas General Store bought, on credit, a truckload of merchandise from American Wholesaling...
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Accounting
Assume Bella Donnas General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $3,910. The company paid $148 in transportation cost to National Trucking to deliver the merchandise to Bella Donna. Bella Donna immediately returned goods to American Wholesaling costing $560, and then took advantage of American Wholesalings 1/10, n/30 purchase discount.
At the end of the period the inventory account will have a balance of $_
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