_6. The amount of goods available for sale during the year depends on the amounts of

[A] beginning merchandise inventory and net cost of purchases.

[B] beginning merchandise inventory and cost of goods sold.

[C] beginning merchandise inventory, net cost of purchases, and ending merchandise inventory. [D] beginning merchandise inventory, cost of goods sold, and ending merchandise inventory.

_____7. The entry to record a sale of $750 with terms of 2/10, n/30 would include a [A] credit to Accounts Receivable for $750.

[B] debit to Sales Discounts for $15.

[C] debit to Sales for $735.

[D] credit to Sales for $750.

_____8. The collection of a $400 account within the 2 percent discount period would result in a [A] credit to Accounts Receivable for $392.

[B] credit to Cash for $392.

[C] debit to Sales Discounts for $8.

[D] debit to Accounts Receivable for $392.

_____9. The entry to record a purchase of $6,000 in merchandise, assuming terms of 2/10,n/30 and a perpetual inventory system, would include a

[A] credit to Accounts Payable for $6,000.

[B] debit to Accounts Payable for $5,880.

[C] debit to Purchases Discounts for $120. [D] credit to Purchases for $6,000.

_____10. The entry to record a payment on a $1,500 account within the 2 percent discount period would include a

[A] credit to Merchandise Inventory for $30.

[B] debit to Cash for $1,500.

[C] credit to Accounts Payable for $1,500 [D] debit to Accounts Payable for $1,470.