Foote Company was granted a purchase discount of $200 on merchandise the company had purchased a few days ago. Foote uses the perpetual inventory system. Which of the following reflects the effects of this event on the financial statements? Asset=Liab.+Stk.EquityRev.-Exp.=Net Inc.Stmt ofCash FlowsA.NA (200) 200200 NA NA200 OAB.NA (200) 200200 NA 200NAC.(200) (200) NANA NA NA(200) OAD.(200) (200) NANA NA NANA
A. Option A
B. Option B
C. Option C
D. Option D
Answer: D
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