What is the business transaction entry on a general journal?

Question

Purchased merchandise from Kendall Corporation for $5,300 under credit terms of 1/10, n/45, FOB shipping point, plus $240 shipping charges. The invoice showed that at Hanifin's request, Kendall had paid $240 shipping charges and added that amount to the bill.

Answer 1

Once the goods are shipped and invoiced, then it's:

Inventory: Debit: $5,540
Accounts Payable: Credit $5,540

I am assuming that the Hanafin is the purchasing company.