When merchandise is bought for resale, which of the following accounts would be increased? A) Store Equipment B) Purchases C) A/R D) Supplies Expense Tyler returned $500 of merchandise within the discount period. The entry to record the return is to: A) debit Purchases for $500; credit Accounts Payable for $500. B) debit Purchases for $500; credit Purchases Returns and Allowances for $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. Which of the following accounts is a contra-cost account? A) Accumulated Depreciation B) Purchases Returns and Allowances C) Sales Returns and Allowances D) Depreciation Expense Jack's Online Service on April 30 has the following account balances: If net purchases for the period are $15,000, what is the amount in the Purchases Discounts account? A)$3,000 B)$4,000 C) $2,000 D)$1,000 Jack's Online Service on April 30 has the following account balances: If net purchases for the period are $15,000, what is the amount of gross purchases? A) $18, 500 B) $15, 500 C) $17, 500 D) $16, 500