Multiple Choice
Given the following accounts:
-Prepared and recorded voucher #422 for the purchase of merchandise (gross method) of $10,000 with credit terms of 2/10, n/30.
Debit ________ Credit ________
A) Cash in bank
B) Petty cash
C) Supplies
D) Equipment
E) Notes payable
F) Vouchers payable
G) FICA payable
H) Wages payable
I) Purchases
J) Purchase discounts
K) Discounts lost
L) Repairs expense
M) Interest expense
N) Delivery expense
Indicate the account(s) to be debited and credited to record the following transactions.
The company uses the periodic inventory method.
Correct Answer:

Verified
Correct Answer:
Verified
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