Martin Corporation Used the Gross Method of Recording Purchases

question 59

Multiple Choice

Martin Corporation used the gross method of recording purchases.A purchase of $5,600,3/10,n30 would be recorded as:

• A)debit Purchases $5,600; credit Accounts Payable $5,600.
• B)debit Purchases $5,600; credit Vouchers Payable $5,600.
• C)debit Purchases $5,432; credit Accounts Payable $5,432.
• D)debit Purchases $5,432; credit Vouchers Payable $5,432.

---

Definitions:

Survey

A research method used to collect data from a predetermined group of respondents to gain information and insights on various topics.

Faulty Switch

A defective switch that fails to perform its intended function, which can be due to manufacturing defects, wear and tear, or damage.

Defective Cord

A cord or cable that fails to meet quality standards or is malfunctioning, potentially causing safety or operational issues.

Appliance Store

A retail establishment that sells household electrical machines and devices for tasks such as cooking, cleaning, and food preservation.