Multiple Choice
A company uses the perpetual inventory system and recorded the following entry: This entry reflects a:
A) Purchase of merchandise on credit.
B) Return of merchandise.
C) Sale of merchandise on credit.
D) Payment of the account payable less a 2% cash discount taken.
E) Payment of the account payable less a 1% cash discount taken.
Correct Answer:

Verified
Correct Answer:
Verified
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