Santa Fe Corporation uses the perpetual inventory method. On March 1, it purchased $60,000 of merchandise inventory, terms 2/10, n/30. On March 3, Santa Fe returned goods (not damaged) that cost $6,000. On March 9, Santa Fe paid the supplier. On March 9, Santa Fe should credit:

Answer and Explanation:

The Journal entry is shown below:-

Accounts payable Dr, $54,000 ($60,000 - $6,000)

           To Inventory , $1,080  ($54,000 × 2%)

           To Cash $52,920

(Being cash paid for accounts payable is recorded)

Here we debited the inventory as it increased the current assets and we credited the cash and account payable as it decreased the current assets and increased the current liabilities.

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.