question 1

question 2

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C Company purchased inventory for $3,000 on account with shipping terms "FOB shipping point," and credit terms of 2/15,n/30. The company paid $100 cash for freight in. The entry to record the payment of the invoice within 15 days of the invoice date by the buyer would include (Assume a perpetual inventory system.) A) a debit to Accounts Payable for $3,000, a credit to Merchandise Inventory for $60, and a credit to Cash for $2,940 B) a debit to Accounts Payable for $3,000, a credit to Merchandise Inventory for $100, and a credit to Cash for $2,900 C) a debit to Accounts Payable for $2,940 and a credit to Cash for $2,940 D) a debit to Accounts Payable for $2,940, a debit to Merchandise Inventory for $60, and a credit to Cash for $3,000 C Company lends Z Company $40,000 on August 1, 2022, accepting a 9-month, 9\% interest note. What adjusting entry should C Company make at Dec. 31, 2022