Question: Under a periodic system, the journal entry to record a freight charge paid with cash would include a a. credit to merchandise inventory. b. a

Under a periodic system, the journal entry to record a freight charge paid with cash would include a a. credit to merchandise inventory. b. a debit to freight-in. c. a credit to accounts payable. d. credit to purchase returns and allowances

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1. The concepts that are used to describe social situations are mental constructions.

The facts rule: We have a tendency to have more confidence in information that is documented with figures than information that isnt.

The permanence rule: We tend to have more confidence in information that is of a more permanent nature than information that is of a temporary nature.