Multiple Choice
For a company using a perpetual inventory system, the journal entry to record the purchase of $3,500 of goods on account, with terms of 4/10, n/30, would include a
A) debit to Accounts Payable of $3,500.
B) credit to Accounts Payable of $3,360.
C) debit to Inventory of $3,360.
D) debit to Inventory of $3,500.
Correct Answer:
Verified
Correct Answer:
Verified
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