For this learning journal, review and prepare any necessary journal entries for the following scenarios:
Scenario 1: On July 1st, Wellness Gym obtained inventory from Equip Store Ltd with a value of 20,000, utilizing a credit arrangement. Equip Store Ltd provides a 4
On July 3rd, Wellness Gym returned damaged inventory valued at5,000.
On July 9th, Wellness Gym made the full payment to Equip Store Ltd.