The Entry to Record a Payment on a $600 Account

question 85

Multiple Choice

The entry to record a payment on a $600 account within the 2% discount period would include a:

• A)debit to Accounts Payable for $588.
• B)debit to Accounts Payable for $600.
• C)credit to Purchases for $588.
• D)debit to Cash for $600.

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Definitions:

Embolus

A blood clot, air bubble, piece of fatty deposit, or other object that has been carried in the bloodstream to lodge in a vessel and cause an embolism.

Thrombus

A blood clot that forms within a blood vessel or the heart and may cause vascular obstruction.

Thrombocytes

Another term for platelets, the blood cells that play a critical role in blood clotting.

Platelets

A type of blood cell that helps prevent bleeding by forming clots.