Solved: Some of the transactions of torres company during august, Accounting Basics

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Some of the transactions of torres company during august

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Some of the transactions of Torres Company during August are listed below. Torres uses the periodic inventory method.

August 10		Purchased merchandise on account, $39,800, terms 2/10, n/30.
13		Returned part of the purchase of August 10, $1,600, and received credit on account.
15		Purchased merchandise on account, $41,800, terms 1/10, n/60.
25		Purchased merchandise on account, $50,200, terms 2/10, n/30.
28		Paid invoice of August 15 in full.

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Accounting Basics: Some of the transactions of torres company during august

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