Multiple Choice
Using the gross method approach,record the payment of the following transaction in time to take the discount.Connect Company bought $4,000 of merchandise,terms 3/10,n/30:
A) debit Cash $4,000; credit Vouchers Payable $4,000.
B) debit Vouchers Payable $4,000; credit Cash $3,880; credit Purchases Discount $120.
C) debit Vouchers Payable $3,880; credit Cash $3,880.
D) debit Vouchers Payable $4,000; credit Cash $4,000.
Correct Answer:

Verified
Correct Answer:
Verified
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