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    Business
  3. Study Set
    College Accounting
  4. Exam
    Exam 7: Special Journals and Subsidiary Ledgers: the Basics: Purchases and Cash Payments Journals
  5. Question
    The Entry to Record a Purchase of $2,000 on Account
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The Entry to Record a Purchase of $2,000 on Account

Question 97

Question 97

Multiple Choice

The entry to record a purchase of $2,000 on account, terms of 2/10, n/30, would include a


A) debit to Inventory for $40.
B) credit to Accounts Payable for $2,000.
C) debit to Accounts Payable for $2,000.
D) credit to Cash for $2,000.

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