Short-Term Notes Payable Bowden Co. Buyer/Borrower) Coker Co Seller/Creditor) Description Debit Credit Description Debit Credit Mdse Inventory 10.000 Accts. Receivable 10.000 Accts Payable 10.000 Sales 10.000 Cost of Mdse Sold 7,500 Mdse Inventory 7,500 May 1. Bowden Co purchased merchandise on account from Coker Co., $10,000, terms 2/10, n/30 c10-3C10 - 3 Short-Term Notes Payable Description Debit Credit Mdse. Inventory 10,000 Accts. Payable 10,000 Accts. Receivable 10,000 Sales 10,000 Cost of Mdse. Sold 7,500 Mdse. Inventory 7,500 Bowden Co. (Buyer/Borrower) Coker Co. (Seller/Creditor) Description Debit Credit May 1. Bowden Co. purchased merchandise on account from Coker Co., $10,000, terms 2/10, n/30