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

question 133

Multiple Choice

Using the gross method approach,record the payment of the following transaction in time to take the discount.Clip Company bought $6,500 of merchandise,terms 2/15,n/45:

• A)debit Cash $6,500; credit Vouchers Payable $6,500.
• B)debit Vouchers Payable $6,500; credit Cash $6,370; credit Purchases Discount $130.
• C)debit Vouchers Payable $6,370; credit Cash $6,370.
• D)debit Vouchers Payable $6,500; credit Cash $6,500.

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