The entry to record a purchase of $5,000 on account, terms of 2/10, n/30, would include a __________.

A. debit to Purchases Discount for $100

B. credit to Accounts Payable for $5,000

C. debit to Accounts Payable for $5,000

D. credit to Cash for $5,000

Returned merchandise under the periodic inventory method. This will be recorded with a __________.

A. debit to Accounts Payable and a credit to Purchases Returns and Allowances

B. debit to Merchandise Inventory and a credit to Purchases

C. credit to Accounts Payable and a debit to Merchandise Inventory

D. debit to Accounts Payable and a credit to Merchandise Inventory

Tyler returned $500 worth of merchandise within the discount period. The entry to record the return is to __________.

A. debit Purchases for $500; credit Accounts Payable $500

B. debit Purchases for $500; credit Purchases Returns and Allowances $500

C. debit Accounts Payable/Suppliers Name for $500; credit Purchases Returns and Allowances for $500

D. debit to Accounts Payable for $500, credit Purchases Discount for $500

Medeco bought goods for $250 on credit. Medeco returned $50 worth of goods. Terms of the sale were 2/10, n/30. If Medeco pays the amount owed within the discount period, what is the amount they should pay?

A. $250

B. $204

C. $196

D. $200

Heidis Accessories bought 50 necklaces for $10 each on account. The invoice included a 6% sales tax and payment terms of 2/10, n/30. Five necklaces were returned prior to payment. The entry to record the purchase would include a __________.

A. debit to Accounts Payable for $530

B. debit to Accounts Payable for $500

C. debit to Purchases for $530

D. debit to Purchases for $500

The Accounts Payable subsidiary ledger __________.

A. lists accounts alphabetically

B. lists accounts for which the company owes money

C. has a controlling account in the general ledger

D. all of the above