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Inventoriable goods were purchased on 5/4/x1, terms-2/10, net 30, for $10,000. Using the perpertual inventory method, the journal entry to record the payment dated 5/15/xl would be O a) A/P b) A/P c) A/P 10,000 Inventory 200 Cash 9800 10,000 Cash 10,000 10,000 Pur Return 200 Cash 9800 d) None of the above.

Inventoriable goods were purchased on 5/4/x1, terms-2/10, net 30, for $10,000. Using the perpertual inventory method, the journal entry to record the payment dated 5/15/xl would be O a) A/P b) A/P c) A/P 10,000 Inventory 200 Cash 9800 10,000 Cash 10,000 10,000 Pur Return 200 Cash 9800 d) None of the above.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Inventoriable goods were purchased on 5/4/x1, terms=2/10, net 30, for $10,000. Using the perpertual inventory method, the journal entry to record the payment dated 5/15/x1 would be O a) A/P b) A/P Oc A/P 10,000 Inventory 200 Cash 9800 10,000 Cash 10,000 10,000 Pur Return 200 Cash 9800 d) None of the above.
Transcribed Image Text:Inventoriable goods were purchased on 5/4/x1, terms=2/10, net 30, for $10,000. Using the perpertual inventory method, the journal entry to record the payment dated 5/15/x1 would be O a) A/P b) A/P Oc A/P 10,000 Inventory 200 Cash 9800 10,000 Cash 10,000 10,000 Pur Return 200 Cash 9800 d) None of the above.
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