Simmons,Inc

question 140

Multiple Choice

Simmons,Inc.received an invoice from Wilson Company for $5,550 with terms of 3/10,n/45 on March 8.If Simmons pays the bill on March 15,they will credit inventory under a perpetual inventory system for:

• A)$0.00.
• B)$555.00.
• C)$166.50.
• D)$5550.00.

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Definitions:

Pequot Tribe

A Native American people of Connecticut, who were involved in the Pequot War with settlers in the 17th century, leading to their near destruction.

Colonists' Victory

Refers to the successful outcomes achieved by colonial inhabitants, especially in the context of wars or conflicts against colonial powers for independence or self-governance.

Half-Way Covenant

A form of partial church membership created by New England Puritans in 1662, allowing for the baptism and a form of limited membership for individuals not yet converted.

Puritan Churches

Religious institutions established by the Puritans, who were a group of English Protestants seeking to "purify" the Church of England from its Catholic practices in the 16th and 17th centuries.