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Determine the credit to Accounts Payable on May

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Question - On May 6, R. Alexander purchased merchandise for his jewelry store. The invoice was for $80,000 plus freight of $1,500, terms 1/15, n/30. On May 10, R. Alexander returned merchandise for $15,000 credit. On May 19, R. Alexander paid the amount owed. Answer the following questions:

a. Determine the credit to Accounts Payable on May 6?

b. Determine the debit to Inventory on May 6?

c. Determine the debit to Accounts Payable on May 10?

d. Determine the credit to Inventory on May 19?

e. Determine the credit to Cash on May 19?

Reference no: EM132938667

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