Multiple Choice
On April 6,Lopez Co.purchased $5,000 of merchandise,terms 1/15,n/30.Lopez Co.paid for the purchase on April 26.The entry to record the payment on April 26 in a perpetual inventory system includes which of the following?
A) A credit to inventory for $50.
B) A debit to accounts payable for $4,900.
C) A credit to accounts payable for $5,000.
D) A credit to cash for $5,000.
Correct Answer:
Verified
Correct Answer:
Verified
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