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1 1 0 , n 1 5 is interpreted as: A ) 1 5 % discount if paid within 1 day B ) 1 0
is interpreted as: A discount if paid within day B cash discount if the amount is paid within day, the balance is due in days. C cash discount if the amount is paid within days, the balance is due in days. D discount if paid within days. ZMart uses the perpetual inventory system and recorded the following journal entry: tableAccounts Payable,Merchandise Inventory,Cash The transaction was: A A purchase. B A return. C A return and payment of the account payable. D A payment of the account payable and recognition of a cash discount taken. E A purchase and recognition of a cash discount taken. In a periodic inventory system, Purchases is a temporary account. A True B False
is interpreted as:
A discount if paid within day
B cash discount if the amount is paid within day, the balance is due in days.
C cash discount if the amount is paid within days, the balance is due in days.
D discount if paid within days.
ZMart uses the perpetual inventory system and recorded the following journal entry:
tableAccounts Payable,Merchandise Inventory,Cash
The transaction was:
A A purchase.
B A return.
C A return and payment of the account payable.
D A payment of the account payable and recognition of a cash discount taken.
E A purchase and recognition of a cash discount taken.
In a periodic inventory system, Purchases is a temporary account.
A True
B False
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