12. 12.grimson plc paid an invoice from a credit supplier and took advantage of the early...

Transcribed Image Text:

12. 12.grimson plc paid an invoice from a credit supplier and took advantage of the early settlement discount offered. When the invoice was received and recorded, Crimson plc did not expect to take the discount. The journal entry to record the payment of the invoice is: A. Debit Payables, Credit Purchases, Credit Cash at bank account B. Debit Payables, Credit Cash at bank account C. Debit Cash at bank account, Debit Purchases, Credit Payables D. Debit Cash at bank account, Credit Purchases, Credit Payables 12. 12.grimson plc paid an invoice from a credit supplier and took advantage of the early settlement discount offered. When the invoice was received and recorded, Crimson plc did not expect to take the discount. The journal entry to record the payment of the invoice is: A. Debit Payables, Credit Purchases, Credit Cash at bank account B. Debit Payables, Credit Cash at bank account C. Debit Cash at bank account, Debit Purchases, Credit Payables D. Debit Cash at bank account, Credit Purchases, Credit Payables

Answer rating: 100% (QA)

The correct journal entry to record the payment of the invoice in which the company took an early settlement discount is not fully visible in the prov... View the full answer