Which of the following amounts must be added to Purchases on an income statement?

a.Purchase Discount

b.Freight In

c.Freight Out

d.Purchase Allowance

Manufacturers and wholesalers offer their customers substantial reductions from the list or catalog prices. The reductions from the list prices are called:

a.trade discounts.

b.purchase discounts.

c.quantity discounts.

d.bill discounts.

Which of the following journals is a special journal?

a.A drawings journal

b.An accounts payable journal

c.A purchases journal

d.A capital journal

please answer all the questions