Assume That a Company Records Purchases Net of Discount

Multiple Choice

Assume that a company records purchases net of discount.If the company bought merchandise valued at $15,000 on credit terms 3/15,net 30,the entry to record a payment for half of the purchase within the discount period would include a debit to

A) Accounts Payable for $7,275 and a credit to Cash for $7,275
B) Accounts Payable for $7,500 and a credit to Cash for $7,500
C) Accounts Payable for $7,275 and to Interest Expense for $250,and a credit to Cash for $7,500
D) Accounts Payable for $7,275 and to Interest Revenue for $250 and a credit to Cash for $7,500.