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Morgan, Inc

Question 180

Multiple Choice

Morgan, Inc. uses a perpetual inventory system and the net method of recording purchases. On May 12, a merchandise purchase of $15,000 was made on credit, 2/10, n/30. Payment was made on May 20. The journal entry to record the payment is:


A) Morgan, Inc. uses a perpetual inventory system and the net method of recording purchases. On May 12, a merchandise purchase of $15,000 was made on credit, 2/10, n/30. Payment was made on May 20. The journal entry to record the payment is: A) B) C) D) E)
B) Morgan, Inc. uses a perpetual inventory system and the net method of recording purchases. On May 12, a merchandise purchase of $15,000 was made on credit, 2/10, n/30. Payment was made on May 20. The journal entry to record the payment is: A) B) C) D) E)
C) Morgan, Inc. uses a perpetual inventory system and the net method of recording purchases. On May 12, a merchandise purchase of $15,000 was made on credit, 2/10, n/30. Payment was made on May 20. The journal entry to record the payment is: A) B) C) D) E)
D) Morgan, Inc. uses a perpetual inventory system and the net method of recording purchases. On May 12, a merchandise purchase of $15,000 was made on credit, 2/10, n/30. Payment was made on May 20. The journal entry to record the payment is: A) B) C) D) E)
E) Morgan, Inc. uses a perpetual inventory system and the net method of recording purchases. On May 12, a merchandise purchase of $15,000 was made on credit, 2/10, n/30. Payment was made on May 20. The journal entry to record the payment is: A) B) C) D) E)

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