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:

Second-borns

Individuals born as the second child in their family, potentially influencing their personality and behavior due to birth order dynamics.

Sense Of Dethronement

Feelings of loss or displacement often experienced by a child upon the arrival of a new sibling.

First-borns

Refers to individuals who are the eldest child in their families, often discussed in the context of their typical personality traits, leadership qualities, and responsibilities.

Father's Role

The social and emotional responsibilities and functions that a father has in the upbringing and development of their children.