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Which best describes how should post that entry

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Problem 1: Your company buys $250,000 worth of material on terms of 10% net 10. If you pay for the material within 10 days, which of the following best describes how you should post that entry?

A- Credit Accounts Payable $25000; debit Purchase Discounts $225000.
B- Debit Accounts Payable $250,000 credit Purchase Discounts $25,000 credit Cash $255000
C- Credit Cash $225,000; Debit interest Expense $25000.
D- Credit Cash $225,000; debit income $25,000; debit Accounts payable $250000
E- Credit Equipment $250,000; Debit Cash $250,000

Reference no: EM132699012

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