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On October 1, Jerry's Lighting purchased merchandise with a list pnce of 59,400 with credit terms of 2/15, 145. On October 3. Jerry's returns S1600 of the merchandise Assoming a periodic inventory system is used and Jerrys pays the remaining amount owed on the purchase within the discount period, Derry's journal entry to record the payment would Include Multiple Cholce a debit to Accounts Payable for $7800 a debt to Accounts Gecevable for $7.00 a debt to purchases Discounts for $156 a debit to Merchandienettory for $156 Credit terms of 2/15, n/45 indicate that which of the following sales discounts is being offered? Multiple Choice 2% discount 15% discount 30% discount 45% discount On March 30, a firm's bank reconciliation statement shows a book balance of S31640, an NSF check of $800 and a service charge of $40. The Journal entry on March 30 to record these items would be! CREDIT OPTION CA DEBIT 800 40 840 (B) 8.40 ACCOUNT TITLE Accounts receivable Bank fees expense Cash Cash Bank fees expense NSF expense Miscellaneous expenses Cash Cash Accounts receivable Bank fees expense 40 800 (C) 840 840 (D) 840 800 40 Multiple Choice Option A O Optione Optionc Option D Which of the following statements is not correct? 30 Multiple Choice In accounting, the term care includes checks money orders, and funds on deposit in a bank as well as currency and con In a well-managed business, most bilis are paid by cash The cash register tope is used to enter the cash sales and sales tax in the journal The petty cash account balance is usually listed separately from the Cash account on the Balance Sheet Kay Sadla sold merchandise for $5000 subject to 8% sales tax. The entry in the general Journal to record the sale w include: Multiple Choice a debit to Sales Tax Payable for $400 a credit to Sales for $5,000 a credit to Sales for $5.400 a debit to Accounts Receivable for $5,000