Read the Description of the Following Transactions That Are Recorded

question 54

Essay

Read the description of the following transactions that are recorded during the accounting period for Hughley Consulting Services.Determine the account to be debited and the account to be credited.
A)Issued a check to a supplier as a payment on account.
B)Purchased merchandise;the supplier's invoice,which includes a freight charge,has payment terms of 2/10,n/30.
C)Returned some damaged merchandise to a supplier and received a credit memorandum.
D)Received an allowance for some merchandise that was slightly damaged but can be sold at a reduced price;received a credit memorandum.
E)Purchased merchandise with terms of net 30 days.

• A)Issued a check to a supplier as a payment on account.
• B)Purchased merchandise;the supplier's invoice,which includes a freight charge,has payment terms of 2/10,n/30.
• C)Returned some damaged merchandise to a supplier and received a credit memorandum.
• D)Received an allowance for some merchandise that was slightly damaged but can be sold at a reduced price;received a credit memorandum.
• E)Purchased merchandise with terms of net 30 days.

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Definitions:

Peristalsis

Contractions that propel food through the digestive tract.

Digestive System

The group of organs responsible for breaking down food into nutrients, which the body uses for energy, growth, and cellular repair.

Circular Muscles

Muscles that are shaped in rings and typically found in various body systems, responsible for controlling the passage of substances by contraction and relaxation.

Ghrelin

A peptide hormone produced primarily in the stomach, the level of which rises before and falls after meals.