Solved

Use the Following Information for Questions

Question 1

Multiple Choice

Use the following information for questions
Richey Co.records purchases at net amounts.On May 5 Richey purchased merchandise on account, $16,000, terms 2/10, n/30.Richey returned $1,200 of the May 5 purchase and received credit on account.At May 31 the balance had not been paid.
-The amount to be recorded as a purchase return is


A) $1,080.
B) $1,224.
C) $1,200.
D) $1,176.

Correct Answer:

verifed

Verified

Related Questions