Based on the Following Information,what Would Be Recorded as Purchases

question 14

Multiple Choice

Based on the following information,what would be recorded as purchases discount if the invoice is paid within the discount period?

• A)$100
• B)$30
• C)$43
• D)$33

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Definitions:

UCC

Stands for Uniform Commercial Code, a set of comprehensive laws regulating commercial transactions in the United States.

Price

The amount of money expected, required, or given in payment for something.

Payment

The transfer of money, goods, or services in exchange for a product, service, or to satisfy an obligation.

Fixture

A fixture is an item that was originally personal property but has been attached to real property in such a way that it is legally considered a part of the real property.