Given the Following Accounts

question 18

Multiple Choice

Given the following accounts:
-Prepared and recorded voucher #426 for the purchase of merchandise (net method) of $4,200 with credit terms of 2/10, n/30.
Debit ________ Credit ________

• A)Cash in bank
• B)Petty cash
• C)Supplies
• D)Equipment
• E)Notes payable
• F)Vouchers payable
• G)FICA payable
• H)Wages payable
• I)Purchases
• J)Purchase discounts
• K)Discounts lost
• L)Repairs expense
• M)Interest expense
• N)Delivery expense
• Indicate the account(s) to be debited and credited to record the following transactions.
• The company uses the periodic inventory method.

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Definitions:

Individuality

The quality or character of a particular person that distinguishes them from others of the same kind, encouraging individual traits and freedoms.

Group Crowd

A large number of individuals gathered together, often sharing a common purpose or emotion, but not necessarily structured as a group.

Deindividuation

A concept in social psychology that refers to the loss of self-awareness in groups, which can lead to disinhibited and impulsive actions.

Social Loafing

The phenomenon where individuals exert less effort when working in a group compared to when working alone.