Use the Following Information for Questions Tuck Corp

question 417

Multiple Choice

Use the following information for questions Tuck Corp.records purchases at net amounts.On May 5, Tuck purchased merchandise on account costing $8,000 (gross) , terms 2/10, n/30.Tuck returned $700 of the May 5 purchase and received credit on account.At May 31 the balance had not been paid.
-By how much should the account payable be adjusted on May 31?

• A)$0
• B)$146
• C)$160
• D)$540