A Company,using the Net Method,purchased Inventory for $3,000 and Term

question 54

Multiple Choice

A company,using the net method,purchased inventory for $3,000 and term 2/10 net 30 but did not pay the bill in time to take advantage of the discount.The cost recorded in the inventory account after this event would be?

• A)$3,000
• B)$2,940
• C)$3,060
• D)Not enough data to determine

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Definitions:

Pupil

The opening in the center of the iris of the eye that allows light to enter the retina.

Special Senses

The senses including vision, hearing, taste, smell, and equilibrium, which have specialized organs devoted to them.

Complex Sensory Organs

Organs specialized for the perception of stimuli such as sight, hearing, balance, taste, and smell, integrating multiple structural and functional components.

Optic Disc

The point of exit for ganglion cell axons leaving the eye, where the optic nerve begins, and notably lacks photoreceptor cells, creating a "blind spot."