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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Definitions:

Top-Down

Describes an approach or management style where decisions and policies are initiated by the highest level of authority and then passed down through the ranks.

Markov Model

A stochastic model used to predict future states or outcomes based on current conditions and probabilistic transitions between states.

Projected Patterns

Forecasted trends or behaviors expected to occur based on analysis of historical data and current conditions.

Movement Analysis

The study of movement in order to identify patterns or inefficiencies for the purpose of improving performance or reducing the risk of injury.