Toy Bots Company Bought $8,000 of Merchandise, Terms 2/10, N/30

question 15

Multiple Choice

Toy Bots Company bought $8,000 of merchandise, terms 2/10, n/30. The company uses the periodic inventory system and the voucher system. The journal entry to record the transaction under the net method would be to:

• A) debit Purchases $7,840; credit Accounts Payable $7,840.
• B) debit Purchases $8,000; credit Vouchers Payable $8,000.
• C) debit Purchases $8,000; credit Vouchers Payable $7,840; credit Discounts Lost $160.
• D) debit Purchases $7,840; credit Vouchers Payable $7,840.

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Definitions:

Connectionist Model

A computational model in cognitive science that represents mental phenomena using networks of artificial neural units, drawing inspiration from the neural structures in the brain.

Lexical Decision Task

A task in which an experimental participant is presented with letter strings and asked to judge, as quickly as possible, whether the strings form words.

Schemata

Frameworks for organizing and representing knowledge that contain roles, variables, and fixed parts.

Prototype View

A theory in cognitive science that suggests people categorize objects and ideas by comparing them to an internal "best example" or prototype of a category.