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:

Raymond Cattell

A psychologist known for his work in personality theory, specifically the development of the 16 Personality Factor (16PF) model.

Self-Esteem

An individual’s subjective evaluation of their own worth, comprising feelings of confidence, respect, and self-acceptance.

Constantly-Changing

Refers to something that is in a state of continuous movement or flux, not remaining the same over time.

Dynamic Concept

A notion or idea that is subject to change and capable of evolution or development over time.