Multiple Choice
When a discount is taken for prompt payment under a periodic inventory system, the purchaser would credit:
A) Accounts Payable.
B) Accounts Receivable.
C) Purchases Discounts.
D) Inventory.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q158: In a periodic inventory system, the entry
Q159: Net sales is equal to sales revenue
Q160: A merchandiser purchases inventory on account under
Q161: In a periodic inventory system, cost of
Q162: Under a perpetual inventory system, which accounts
Q164: Gross margin minus operating expenses equals income
Q165: The buyer is responsible for the shipping
Q166: Inventory for a business using the periodic
Q167: When goods are shipped FOB destination and
Q168: Green Company purchased $3,600 of merchandise on