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The following entry was recorded in the books of Brighty Company. Apr. 8 Accounts Payable--Marigold, Inc. 3,000 Inventory 3,000 Debit Memo No. 25. What is
The following entry was recorded in the books of Brighty Company. Apr. 8 Accounts Payable--Marigold, Inc. 3,000 Inventory 3,000 Debit Memo No. 25. What is the impact of this entry on the accounting equation? Oa. an increase in Assets and an increase in Liabilities Ob. a decrease in Assets and a decrease in Liabilities Oc. a decrease in Assets and a decrease in Equity Od. an an increase in Assets and an increase in Equity What amount will be paid in full settlement of Invoice 22384, assuming that credit for returns and allowances was received prior to payment and that the invoice was paid within the discount period. Inv. No. Merchandise Freight Paid by Seller Freight Terms Returns and Allowances 22384 $4,500 $140 FOB Shipping Point, 2/10, net 30 $1,200 Oa. $3,234 Ob. $3,440 Oc. $4,640 Od. $3,374
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