Using the Gross Method Approach,record the Payment of the Following

question 15

Multiple Choice

Using the gross method approach,record the payment of the following transaction in time to take the discount.Connect Company bought $4,000 of merchandise,terms 3/10,n/30:

• A)debit Cash $4,000; credit Vouchers Payable $4,000.
• B)debit Vouchers Payable $4,000; credit Cash $3,880; credit Purchases Discount $120.
• C)debit Vouchers Payable $3,880; credit Cash $3,880.
• D)debit Vouchers Payable $4,000; credit Cash $4,000.

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