Answer:
The answer is given below;
Explanation:
June 10.
Inventory (26,000*.96) Dr.$24,960
Accounts Payable Cr.$24,960
2.If payment is made on June 18,2021
Accounts Payable Dr.$24,960
Bank Cr.$24,960
3. If payment is made on July 8,2021
Inventory (26,000-24,960) Dr.$1,040
Accounts Payable Cr.$1,040
Accounts Payable (1,040+24,960) Dr.$26,000
Bank Cr.$26,000
As the credit period of 10 days for discount was not availed, therefore full amount payment will be made.
