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    KMESZ1252's Avatar
    KMESZ1252 Posts: 1, Reputation: 1
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    #1

    Mar 22, 2009, 10:10 AM
    Journal Entries Perpetual1
    Purchased merchandise from Shimano Inc. for $15000 with credit terms of 1/10, n/30
    fuyu1017's Avatar
    fuyu1017 Posts: 3, Reputation: 1
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    #2

    Mar 22, 2009, 11:27 AM

    The difference between perpetual and periodic is mainly on the purchase, sales, return inward and outward.

    In this case, it is a purchase item.
    For perpetual, simply Dr Inventory, Cr account payable - Shimano Inc. is OK.
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