Queen Mattresses,Inc If Queen Mattresses,Inc $\begin{array}{lll}\text { Accounts Payable } & 1,000 & \\\quad \text { Inventory } & & 1,000 \\\end{array}$

question 84

Multiple Choice

Queen Mattresses,Inc.had the following transactions occur during May 20X3.Assume there is no beginning inventory. $\begin{array}{ll}\text { May } 2 & \text { Inventory was purchased on account for } \$ 5,000 \text {, terms } 2 / 10, n / 30 . \\\text { May } 3 & \text { Inventory costing } \$ 1,000 \text { was returned. } \\\text { May } 9 & \text { Paid for the inventory. } \\\text { May 15 } & \text { Inventory costing } \$ 2,200 \text { was sold on account for } \$ 3,800 \text {, terms } 3 / 10, n / 45 \text {, } \\\text { May } 31 & \text { Closing entries are prepared for the month-end financial statements. }\end{array}$ If Queen Mattresses,Inc.were using the perpetual inventory system,what is the journal entry for May 3?

• A)\(\begin{array}{lll}
• \text { Accounts Payable } & 1,000 & \\
• \quad \text { Inventory } & & 1,000 \\
• \end{array}\)
• B)\(\begin{array}{lccc}
• \text { Accounts Payable } & 1,000 \\
• \quad \text { Purchases } & &1,000 \\
• \end{array}\)
• C)\(\begin{array}{lccc}
• \text { Accounts Payable } & 1,000 \\
• \quad \text { Purchase Returns and Allowances } & &1,000 \\
• \end{array}\)
• D)\(\begin{array}{lccc}
• \text { Accounts Payable } &1,000 & \\
• \quad \text { Cash Discounts on Purchases } & & 20 \\
• \quad \text { Inventory } & & 980\\
• \end{array}\)
• E)\(\begin{array}{lccc}
• \text { Accounts Payable } & 1,000\\
• \quad \text { Cash Discounts on Purchases } & & 20 \\
• \text { Purchases } & & 980\\
• \end{array}\)

Discuss the concept and importance of random assignment in experimental designs.

Recognize the features and implications of within-subjects vs. between-subjects experimental designs.

Identify methods to mitigate weaknesses in posttest-only and pretest-posttest control group designs.

Understand the principles and guidelines for developing reliable and valid scale items.

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Definitions:

Earnings

The amount of money that an individual or business receives in exchange for providing a service or through investing capital.

Political Participation

The involvement of citizens in the political process, ranging from voting in elections to engaging in political discussions or activism.

Daycare

A service that provides care and supervision for children while their parents are at work or engaged in other activities.

Labour Force Participation

The portion of the working-age population (usually those aged 15-64) that is either employed or actively looking for work.