Multiple Choice
The entry to record a purchase of $13,000 on account, terms of 2/10, n/30, would include a:
A) debit to Purchases Discount for $260.
B) credit to Accounts Payable for $13,000.
C) debit to Accounts Payable for $13,000.
D) credit to Cash for $13,000.
Correct Answer:
Verified
Correct Answer:
Verified
Q37: Returned merchandise paid for within the discount
Q38: A receiving report is used to notify
Q39: On June 15, Melo Park purchased merchandise
Q40: The recording of the cost of freight-in
Q41: The accounts payable subsidiary ledger:<br>A) lists accounts
Q43: A buyer taking a discount for early
Q44: The accounts payable subsidiary ledger should equal
Q45: The purchase for merchandise inventory does not
Q46: Joy's Accessories bought 65 necklaces for $12
Q47: Returned merchandise for credit under the perpetual