Question
A company purchased inventory for $3,000 from a vendor on? account, FOB shipping? point, with terms of 22?/15, ?n/30. The company paid $ 200 cash
A company purchased inventory for
$3,000
from a vendor on? account, FOB shipping? point, with terms of
22?/15,
?n/30. The company paid
$ 200
cash for freight in. The entry to record the payment of the invoice within
15
days of the invoice date by the purchaser would include? ________. ? (Assume a perpetual inventory? system.)
A.
a debit to Accounts Payable for
$2,940
and a credit to Cash for $2,940
B.
a debit to Accounts Payable for
$3,000?,
a credit to Merchandise Inventory for
$ 60,
and a credit to Cash for $2,940
C.
a debit to Accounts Payable for
$3,000?,
a credit to Merchandise Inventory for
$200?,
and a credit to Cash for $2,800
D.
a debit to Accounts Payable for
$2,940?,
a debit to Merchandise Inventory for
$ 60,
and a credit to Cash for $ 3 000
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