Multiple Choice
The entry to record a purchase of $12,000 in merchandise assuming terms of 2/10,n/30 and a periodic inventory system would include a(n)
A) increase to Accounts Payable for $12,000.
B) increase to Purchases Discounts for $240.
C) decrease to Purchases for $12,000.
D) decrease to Accounts Payable for $11,760.
Correct Answer:
Verified
Correct Answer:
Verified
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