The Entry to Record a Payment on a $650 Account

question 45

Multiple Choice

The entry to record a payment on a $650 account within the 2% discount period would include a:

• A)debit to Accounts Payable for $637.
• B)debit to Accounts Payable for $650.
• C)credit to Purchases for $637.
• D)debit to Cash for $650.

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Definitions:

Metalloids

Elements with properties that are intermediate between metals and nonmetals.

Periodic Table

A layout in table form of chemical elements, arranged according to atomic number, electron configuration, and periodic chemical properties.

Properties

Characteristics of a substance that define its physical and chemical behavior, such as melting point, boiling point, density, and reactivity.

Palladium (II) Chloride

A chemical compound consisting of palladium and chlorine, commonly used as a precursor in various chemical reactions and catalysis.