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Title: Connect Company bought $6,000 of merchandise from Woods Corporation, terms 2/10, n/30. Connect ... Post by: majestico on Jun 6, 2017 Connect Company bought $6,000 of merchandise from Woods Corporation, terms 2/10, n/30. Connect Company uses the voucher system and the periodic inventory method. The journal entry to record the payment under the gross method after the discount period would be to:
A) debit Vouchers Payable $5,880; credit Cash $5,880. B) debit Vouchers Payable $5,880; debit Purchases Discount $120; credit Cash $6,000. C) debit Vouchers Payable $6,000; credit Cash $6,000. D) debit Vouchers Payable $6,000; credit Purchases Discount $120; credit Cash $5,880. Title: Re: Connect Company bought $6,000 of merchandise from Woods Corporation, terms 2/10, n/30. Connect ... Post by: Augustis on Jun 6, 2017 Content hidden
Title: Re: Connect Company bought $6,000 of merchandise from Woods Corporation, terms 2/10, n/30. Connect ... Post by: majestico on Sep 3, 2017 Yeah, makes a lot more sense. Appreciate this quite a lot
Title: Re: Connect Company bought $6,000 of merchandise from Woods Corporation, terms 2/10, n/30. Connect ... Post by: Augustis on Sep 6, 2018 Happy to help :)
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