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.
-By how much should the account payable be adjusted on May 31?
A) $0.
B) $344.
C) $320.
D) $296.
Correct Answer:
Verified
Correct Answer:
Verified
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