Emma Co. sold to Isabella Co. merchandise on accoun prepaid the $750 shipping charge. Using Co. make to record payment of the merchandise if Isabella Co. pay FOB shipping point, 2/10,net 30, for s15.oo5 the perpetual inventory method, which of the following entries w sabella Co within the discount period? a. Accounts Payable-Emma Co., debit $15,750; b. Accounts Payable-Emma Co., debit $15,450; Cash, credit $15,450 c. Accounts Payable-Emma Co., debit $15,000; Freight In, debit $750; Cash, credit $15,750 Merchandise Inventory, debit $300, Cash, credit $16,050 d. Accounts Payable-Emma Co., debit $15,000; Cash, credit $15,000 5. MC.07-92 ctly reported and the gross profit of a company is understated, what is the effect on owner of a company is understated, what is the effect on owner's equity? correctly stated understated overstated None of these choices are correct. MC.07-95 Vhich of the following will be the same amount regardless of the cost flow assumption adopted? number of items ordered gross profit act af aoods sold