Assume that a company records purchases net of discount. If the company bought merchandise valued at $15,000 on credit terms 3/15, net 30, the entry to record a payment for half of the purchase within the discount period would include a debit to

a. Accounts Payable for $7,275 and a credit to Cash for $7,275
b. Accounts Payable for $7,500 and a credit to Cash for $7,500
c. Accounts Payable for $7,275 and to Interest Expense for $250, and a credit to Cash for $7,500
d. Accounts Payable for $7,275 and to Interest Revenue for $250 and a credit to Cash for $7,500.


A

Business

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