A company uses perpetual inventory system and recorded the following entry: Debit Credit Accounts Payable 2500 Cash

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A company uses perpetual inventory system and recorded the following entry: Debit Credit Accounts Payable 2500 Cash 2450Merchandise Inventory 50 This entry reflects a Select one:

a. Return.

b. Payment of the accounts payable and recognition of a cash discount taken.

c. Sale.

d. Purchase.

Related Book For answer-question

Accounting Principles

ISBN: 978-1119419617

IFRS global edition

Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt

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Posted Date: Dec 13, 2022 05:20 AM

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A company uses perpetual inventory system and recorded the following entry: Debit Credit Accounts Payable 2500 Cash

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Answer b Payment of the accounts payable and recognition of a cash discount taken The ... View the full answer

Accounting Principles

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