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majestico majestico
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6 years ago
Grant's Hardware bought $7,500 of merchandise, terms 1/10, n/30. The journal entry to record the transaction under the net approach method would be to:
A) debit Purchases $7,425; credit Vouchers Payable $7,425.
B) debit Purchases $7,425; credit Accounts Payable $7,425.
C) debit Purchases $7,500; credit Cash $7,500.
D) debit Purchases $7,500; credit Vouchers Payable $7,425; credit Discounts Lost $75.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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AugustisAugustis
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6 years ago
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majestico Author
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#2
6 years ago
Yeah, makes a lot more sense. Appreciate this quite a lot
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#3
5 years ago
Happy to help Slight Smile
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