On May Cullumber Co buys $ of merchandise on account from Marin Supply, terms Cullumber pays Marin on May The buyer uses the perpetual inventory method.
a Prepare the entry to record the purchase of merchandise. If no entry is required, select No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry.
Date Account Titles and Explanation
May
b Prepare the entry to record the payment by Cullumber, if Cullumber pays within the discount period. If no entry is required, select No Entry" for the account titles and enter for the amounts. Credit account titles are automatically.indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.
tableDateAccount Titles and Explanation,Debit,CreditMay
