QUESTION 21 Aurora Outfitters inc. purchased $120.000 of skjackets on October 2. The terms of the sale were 2/10, 1/30. On October 15, the company paid for all the merchandise purchased on October 2. The entry to record the payment will reduce a. Cost of Goods Sold by $120,000 b. Accounts Payable by $120.000 Cost of Goods Sold by $117.600 d Accounts Payable by 5117,600 QUESTION 22 Rich Products Inc. ssued 50.000 shares of common stock with a par value of 1 per share on July 1. the company bought back 1.500 shares from investors for $70 per share. On August 1, the company reissued the 1.500 shares at a price of 575 per share. Rich Products should record which of the following entries: Dr. Cash $105.000 Dr. Additional Pardin Capital $7.500 C. Treasury Stock $112.500 Dr. Treasury Stock cr. Cash 5105.000 $105.000 9 Dr. Treasuryst Dr. Additional Paris Capital 51.500 5103.500 $105.000 Dr. Cash 1112.500 C. Treasure Cr. Adation din Capital 5109.000 57.500