On May 13,Wagoner Company Purchased Merchandize Worth $2,400 on Credit,terms

question 98

Multiple Choice

On May 13,Wagoner Company purchased merchandize worth $2,400 on credit,terms 2/10,n/30.The amount was paid on May 20.What is the required journal entry to record the payment under the periodic inventory system?

• A) Accounts Payable 2,352
• Purchases Discounts 48
• Cash 2,400
• B) Accounts Payable 2,400
• Purchases Discounts 48
• Cash 2,352
• C) Cash 2,352
• Purchases Discounts 48
• Accounts Payable 2,400
• D) Cash 2,400
• Purchases Discounts 48
• Accounts Payable 2,448

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