The Entry to Record Payment of a Voucher, for an Invoice

question 35

Multiple Choice

The entry to record payment of a voucher, for an invoice after the discount period, under the net method and the periodic inventory system will include:

• A) a debit to Purchase Discounts.
• B) a credit to Purchase Discounts.
• C) a debit to Discounts Lost.
• D) None of these is correct.

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Definitions:

Discolored

Changed in color in a way that is less attractive or indicates damage or decay.

Breast Tissue

The fibrous, glandular, and fatty tissue that makes up the breasts, essential for milk production and delivery in females.

Barium Enema

A diagnostic test that involves filling the colon with barium contrast material to make the lower gastrointestinal tract visible on an X-ray.

Breathe

To take air into the lungs and then expel it, a vital process for life and respiration.