Use the Following Information for Questions

question 1

Multiple Choice

Use the following information for questions
Richey Co.records purchases at net amounts.On May 5 Richey purchased merchandise on account, $16,000, terms 2/10, n/30.Richey returned $1,200 of the May 5 purchase and received credit on account.At May 31 the balance had not been paid.
-The amount to be recorded as a purchase return is

• A)$1,080.
• B)$1,224.
• C)$1,200.
• D)$1,176.

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Definitions:

Neurons

Specialized neurons in the nervous system that communicate information via electrical and chemical signals.

Resting Potential

The electrical potential of a neuron when not stimulated or involved in passage of an impulse, typically around -70mV.

Axon

a part of a neuron that conducts impulses away from the cell body towards other neurons or muscles.

Electrical Charge

A fundamental property of matter that exists in either a positive or negative state and causes it to experience a force when placed in an electromagnetic field.