Multiple Choice
Purple Corp.purchased $10,000 of merchandise on June 3,subject to the terms,2/10,n/30.On June 9,it pays for all the merchandise purchased on June 3.When the entry relating to this transaction is recorded,that entry will reduce:
A) Accounts Payable by $9,800.
B) net income by $200.
C) stockholders' equity by $200.
D) Inventory by $200.
Correct Answer:
Verified
Correct Answer:
Verified
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