Multiple Choice
A purchase on account with an invoice price of $1,500 has been made.The entry to record the payment after the 2 percent discount period would include a(n)
A) decrease to Accounts Payable for $1,500.
B) decrease to Purchases Discounts for $30.
C) increase to Accounts Payable for $1,470.
D) decrease to Cash for $1,470.
Correct Answer:
Verified
Correct Answer:
Verified
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