Examlex
Which of the following is true of Gorsuch's confirmation to the Supreme Court?
General Journal Entry
A record in the general journal that represents the detailed listing of a company's financial transactions.
Terms 2/10, N/30
Payment terms indicating a 2% discount if the amount is paid within 10 days; otherwise, the net (full) amount is due within 30 days.
Perpetual Inventory Method
An accounting method that continuously tracks inventory levels and cost of goods sold, updating the accounts after each transaction.
General Journal Entry
A record in the general journal that represents a transaction and shows the accounts and amounts debited and credited.
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