Multiple Choice
If the net approach method is applied,the purchase of $6,500 of merchandise with terms 3/20,n/60 is recorded by:
A) debit Cash $6,500; credit Accounts Payable $6,500.
B) debit Accounts Payable $6,500; credit Purchases $6,500.
C) debit Purchases $6,305; credit Accounts Payable $6,305.
D) debit Purchases $6,305; credit Vouchers Payable $6,305.
Correct Answer:

Verified
Correct Answer:
Verified
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