Joy's Accessories bought 79 necklaces for $16 each on account. The payment forms of 2/10, 1/30, In addition, 5 necklaces were returned prior to payment. The entry to record the initial purchase would include: A a debit to Accounts Payable for $1,264. B. a debit to Merchandise Inventory for $5. c. a debit to Accounts Payable for $1,184 D. a debit to Merchandise Inventory for $1.264. . nti wo Buit The entry to record returned merchandise to Vine Company is: O A. debit Accounts Payable/Vans Company in the accounts payable subsidiary tedger and debit Accounts Payable in the general ledger, credit Merchandise Inventory O B. debit Merchandise Inventory, credit Accounts Payable. OC. debit Accounts Payable; credit Supplies. D. debit Merchandise Inventory, credit Accounts Receivable in the general ledger. OI quest Merchandise Inventory is what type of account? O A. Contra - asset B. Equity O C. Liability OD. Asset Returned merchandise paid for within the discount period for cash. The perpetual inventory system is in use. This retum will be recorded with: A a debit to an expense and a credit to an asset OB. a debit to a liability and a credit to purchases. Oc a debit to an asset and a credit to an asset. D. a debit to an expense and a credit to a lability 1 Jack's Online Service on April 30 has the following transactions: Merchandise Inventory purchased $39,000 Merchandise Inventory returned 12,000 If Jack's pays the invoice in time to receive a 4% discount, what is the amount Jack owes? ess 2 7 O A. $37,440 B. $39,000 OC. $25,920 OD. $27,000 h a a