# Required information Complete the buyer's journal entry for payment by selecting the account names from amounts...

###### Question:

Required information Complete the buyer's journal entry for payment by selecting the account names from amounts in the debit or credit columns. View transaction list Journal entry worksheet 1 A buyer uses a perpetual inventory system, and it purchased $4,000 of merchandise on credit terms of 2/10, n/30 on December 5. Later, on December 15, the buyer pays the invoice in full. Note: Enter debits before credits. Journal entry worksheet A buyer uses a perpetual inventory system, and on December 7, it contacts its supplier to report that some of the merchandise purchased on December 5 was defective. The seller offered to reduce the merchandise price by$400. The buyer agreed to keep the defective merchandise under those terms. Note: Enter debits before credits.

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