If the Net Approach Method Is Applied,the Purchase of $6,500

question 87

Multiple Choice

If the net approach method is applied,the purchase of $6,500 of merchandise with terms 3/20,n/60 is recorded by:

• A)debit Cash $6,500; credit Accounts Payable $6,500.
• B)debit Accounts Payable $6,500; credit Purchases $6,500.
• C)debit Purchases $6,305; credit Accounts Payable $6,305.
• D)debit Purchases $6,305; credit Vouchers Payable $6,305.

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