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A company uses the perpetual inventory system and recorded the following entry: 2,500 Accounts Payable Merchandise Inventory Cash 501 2,450 This entry reflects a: a)

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A company uses the perpetual inventory system and recorded the following entry: 2,500 Accounts Payable Merchandise Inventory Cash 501 2,450 This entry reflects a: a) Payment of the account payable less a 2% cash discount taken. b) Return of merchandise. Purchase of merchandise on credit. d) Sale of merchandise on credit e) Payment of the account payable less a 1% cash discount taken. Bo brak

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