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Question 19 (2 points) ABC Company purchased inventory for $3,000 on account with shipping terms FOB shipping point, and credit terms of 2/15, n/30. The
Question 19 (2 points) ABC 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 $2,940, a debit to Merchandise Inventory for $60, and a credit to Cash for $3,000 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 $3,000, a credit to Merchandise Inventory for $60, and a credit to Cash for $2,940
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