The Entry to Record Payment of a Voucher,for an Invoice

question 86

Multiple Choice

The entry to record payment of a voucher,for an invoice after the discount period,under the net method will include:

• A)a debit to Purchase Discounts.
• B)a credit to Purchase Discounts.
• C)a debit to Discounts Lost.
• D)None of these are correct.

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Definitions:

Industrial Relations School

An academic and professional field that studies the relationships between management and workers, and the role of regulations and labor unions in industry.

Primary Cause

The main or leading reason behind an event or situation.

Align Worker Interests

The process or strategy of ensuring that the objectives and concerns of workers align with those of their representatives, such as unions or labor organizations.

Employer

An individual or organization that hires and pays people to work for them, providing salary or wages in exchange for the employee's labor.