Multiple Choice
Mars Company purchased $2,500 of merchandise on account, terms 3/10 n/60. If payment was made within the discount period, the entry to record the payment under a perpetual inventory system would include a credit to:
A) Cash of $2,425.
B) Inventory of $2,352.
C) Accounts Payable of $2,400.
D) Cash for $2,400.
Correct Answer:
Verified
Correct Answer:
Verified
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