Reference no: EM133022413
Question - A company that uses the perpetual inventory system purchases inventory for $61,000 on? account, with terms of 2?/10, ?n/30. What the journal entry to record the payment made within 10? days?
a. debit to Merchandise Inventory for $1,220?, a debit to Accounts Payable for $61,000?, and a credit to Cash for 62,220
b. a debit to Accounts Payable for $59,780?, a debit to Merchandise Inventory for $1,220?, and a credit to Cash for $61,000
c. a debit to Accounts Payable for $61,000?, a credit to Merchandise Inventory for $1,220?, and a credit to Cash for $59,780
d. debit to Accounts Payable for $61,000?, a credit to Cash for $1,220?, and a credit to Merchandise Inventory for 59,780
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