Which of the Following Would Require a Compound Journal Entry

question 98

Multiple Choice

Which of the following would require a compound journal entry?

• A) To record merchandise returned that was previously purchased on account.
• B) To record sales on account.
• C) To record purchases of inventory when a discount is offered for prompt payment.
• D) To record collection of accounts receivable when a cash discount is taken.

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Definitions:

Homophobia

Prejudice or discrimination against individuals who are gay, lesbian, bisexual, or transgender, often stemming from fear or ignorance.

Transphobia

The intense dislike or prejudice against transsexual or transgender people, manifesting in various forms of discrimination and exclusion.

Biphobia

Biphobia is a form of discrimination or prejudice against bisexual individuals, characterized by negative attitudes, beliefs, or behaviors.

Heterosexism

The discrimination or prejudice against individuals based on a presumption of heterosexuality as the norm.