On June 3, Addison Company purchased merchandise worth $1,600 on credit, terms 2/10, n/30. The amount paid on June 15. What is the required journal entry to record the payment under the periodic inventory system?
A) Accounts Payable 1,568 Purchases Discounts 32Cash 1,600
B) Accounts Payable 1,600 Purchases Discounts 32Cash 1,568
C) Cash 1,600 Accounts Payable 1,600
D) Accounts Payable 1,600 Cash 1,600
D
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A. Measuring B. Leading C. Organizing D. Controlling E. Planning
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a. capital structure b. efficient market c. stock analysis d. capital budgeting
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