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QUESTION 12 Garcia Company uses a periodic inventory system and the gross method of accounting for cash discounts. On January 2, Garcia purchases $1,000 of
QUESTION 12 Garcia Company uses a periodic inventory system and the gross method of accounting for cash discounts. On January 2, Garcia purchases $1,000 of merchandise inventory with terms of 1/10,n/30. On January 10, Garcia pays the amount owed from the purchase on January 2. Which of the following is part of the correct journal entry that Garcia will record on January 10? A. Debit purchases for $1,000 B. Debit accounts payable for $990 C. Credit purchase discounts for $10 D. Credit cash for $1,000 OE. None of the above QUESTION 13 4.5 po Click Save and submit to save and submit. Click Save All Answers to save all answers. Save All Answers 50 0 0 - OPWPXOU O gy ugy egy MacBook Pro
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