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upton upton
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7 years ago
Toy Trains Company bought $8,000 of merchandise, terms 2/10, n/30. The company uses the periodic inventory system and the voucher system. The journal entry to record the transaction under the net method would be to:
A) debit Purchases $8,000; credit Vouchers Payable $8,000.
B) debit Purchases $7,840; credit Vouchers Payable $7,840.
C) debit Purchases $7,840; credit Accounts Payable $7,840.
D) debit Purchases $8,000; credit Vouchers Payable $7,840; credit Discounts Lost $160.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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keytwokeytwo
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upton Author
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7 years ago
Helped a lot
shelbycox
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Yesterday
Smart ... Thanks!
my2redeyes
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2 hours ago
Thanks
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