Youth Spas, Inc., purchased $9,100 worth of inventory from the Pool Doctor on account, terms...
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Youth Spas, Inc., purchased $9,100 worth of inventory from the Pool Doctor on account, terms of 2/10, n/30. Some of the goods were damaged during shipment, so ,Youth Spas Inc., returns $1,100 of the merchandise to the Pool Doctor. Journalize the following transactions for , Youth Spas Inc. assuming the "net" method is utilized. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.)
Journalize the following transactions for
Youth Spas,
Inc. assuming the "net" method is utilized. Explanations are not required.
| a. | Purchase of the goods |
| b. | Return of the damaged goods |
| c. | Payment for the goods within the discount period |
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