Exhibit 7-2 Edwards Co. Purchased Raw Materials with a Cost of $95,000

question 21

Multiple Choice

Exhibit 7-2
Edwards Co. purchased raw materials with a cost of $95,000 on March 2, 2015. Credit terms of 3/20, n/60 applied.
-Refer to Exhibit 7-2. If Edwards uses the net method and pays for the purchase on March 31, 2015, what amount is recorded in the Purchase Discounts Lost account?

• A) $0
• B) $2,850
• C) $4,000
• D) $8,000

Explain how confounding variables affect internal validity in experiments.

Describe the rationale behind random assignment in experiments.

Interpret correlation coefficients and their implications.

Understand naturalistic observation and its major advantage.