The Entry to Record a Purchase of $5,000 on Account,terms

question 22

Multiple Choice

The entry to record a purchase of $5,000 on account,terms of 2/10,n/30,would include a:

• A)debit to Purchases Discount for $100.
• B)credit to Accounts Payable for $5,000.
• C)debit to Accounts Payable for $5,000.
• D)credit to Cash for $5,000.

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Definitions:

Weight Gain

An increase in body weight over a period of time, which can result from an excess of calorie intake over calorie expenditure.

Double-Blind Experiment

An experimental design in which neither the participants nor the experimenters know which participants are in the control group and which are in the experimental group, until after the results are collected, to reduce bias.

Fluoride Mouthwash

An oral rinse product containing fluoride, intended to reduce dental cavities by strengthening tooth enamel.

Matched Pairs Design

An experimental design where each subject is paired up with another subject with similar characteristics, and one subject from each pair is assigned to the treatment group and the other to the control group.