Multiple Choice
Use the following information for questions.
Ryerson Corp.records purchases at net amounts.On May 5, Ryerson purchased merchandise on account costing $6,000 (gross) , terms 2/10, n/30.Ryerson returned $400 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) $408.
B) $400.
C) $392.
D) $360.
Correct Answer:

Verified
Correct Answer:
Verified
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