The Company Uses the Periodic Inventory System and the Voucher

Multiple Choice

The company uses the periodic inventory system and the voucher system. If the net method is applied, the purchase of $9,000 of merchandise with terms 2/10, n/30 is recorded by:

A) debit Cash $9,000; credit Accounts Payable $9,000.
B) debit Accounts Payable $9,000; credit Purchases $9,000.
C) debit Purchases $9,000; credit Accounts Payable $9,000.
D) debit Purchases $8,820; credit Vouchers Payable $8,820.