INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select
-You bought a $500 stereo on the installment plan and made two payments of $75 during the year.On your income/expense statement for the year,you will show an expense of [$150 | $500].

A) for the first item
B) for the second item
C) if neither item will correctly complete the statement.