Ms. Ameena makes the following journal entry in her business: Debit Accounts receivable Credit Sales Which of the following transaction is Correct for the above journal entry? a. Purchased Merchandise inventory under the credit terms of 2/10, n/30 b. Sold Merchandise inventory under the credit terms of 3/10,n/60 c. Paid Cash to Suppliers d. Returned Merchandise inventory to Supplier

Principles of Accounting Volume 1
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ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 2MC: What accounts are used to recognize a retailers purchase from a manufacturer on credit? A. accounts...
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Ms. Ameena makes the following journal entry in her business: Debit Accounts receivable Credit Sales Which of the following transaction is Correct for the above journal entry? a. Purchased Merchandise inventory under the credit terms of 2/10, n/30 b. Sold Merchandise inventory under the credit terms of 3/10,n/60 c. Paid Cash to Suppliers d. Returned Merchandise inventory to Supplier
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