Morgan, Inc. uses a perpetual inventory system and the net method of recording purchases. On May 12, a merchandise purchase of $15,000 was made on credit, 2/10, n/30. The journal entry to record this purchase is:
Explanation: $15,000 × .98 = $14,700
Business
You might also like to view...
Data is ________________
a. chaotic b. abundant c. costly d. elusive
Business
The collection of all possible events is called
a. an outcome c. an event b. a sample space d. None of these choices.
Business
Leadership skills are inborn and cannot be developed.
Answer the following statement true (T) or false (F)
Business
A customer who enters the waiting line but leaves the system prior to receiving service is said to have:
A. Balked B. Reneged C. Stalled D. Disposed
Business