On August 10, Charles Company Purchased 75 Refrigerators for $650

question 8

Multiple Choice

On August 10, Charles Company purchased 75 refrigerators for $650 each from Appliances Wholesalers. The purchase was on account with terms of 3/10, n/30. Charles Company paid for 50 of the refrigerators on August 18 and the remaining refrigerators on August 30. Charles Company uses the gross method for purchase discounts and the perpetual inventory system to record the transactions. On August 30, Charles Company recorded ________.

• A) a debit to Accounts Payable and a credit to Cash
• B) a debit to Cash and a credit to Accounts Payable
• C) a debit to Accounts Payable and a credit to Inventory
• D) a debit to Cash and a credit to Inventory

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Definitions:

Recursive Methods

Functions or methods that call themselves within their own definition, often used for tasks that can be defined in terms of smaller instances of the same problem.

Recursive Call

A function or method that calls itself within its own code, used to solve problems by breaking them down into simpler versions of the same problem.

Recursion

A programming technique where a function calls itself directly or indirectly in order to solve a problem by breaking it down into smaller problems.

Program

A set of instructions written in a programming language that a computer can execute or interpret.