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:

Exploitative Relations

Relationships where one party takes unfair advantage of another, often in social, economic, or labor contexts.

Dependent On

Reliance on something or someone for support, sustenance, or the ability to function properly.

Brym and Lie

Sociologists known for their contributions to understanding social structures, behaviors, and the relation between technology and society, among other topics.

Increasingly Aware

Increasingly aware describes a growing consciousness or recognition of specific issues, facts, or trends among individuals or the general public.