Tony's Market Recorded the Following Events Involving a Recent Purchase

question 143

Multiple Choice

Tony's Market recorded the following events involving a recent purchase of inventory: Received goods for $80,000, terms 2/10, n/30.
Returned $1,600 of the shipment for credit.
Paid $400 freight on the shipment.
Paid the invoice within the discount period.
As a result of these events, the company's inventory

• A)increased by $76,832.
• B)increased by $78,800.
• C)increased by $77,224.
• D)increased by $77,232.

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Definitions:

Overcompensation

A psychological mechanism where individuals attempt to counteract feelings of inferiority or a perceived weakness by emphasizing another trait or engaging in excessive behavior.

Use of Fantasy

The engagement with imaginative and often unreal scenarios as a mental escape or a means of creativity.

Denial of Reality

A psychological defense mechanism in which individuals refuse to accept the truth of a situation or fact, often to protect themselves from discomfort.

Fantasy

A genre of fiction that involves magical or supernatural elements not existing in the real world.