A Purchase on Account with an Invoice Price of $1,500

question 92

Multiple Choice

A purchase on account with an invoice price of $1,500 has been made.The entry to record the payment after the 2 percent discount period would include a(n)

• A)decrease to Accounts Payable for $1,500.
• B)decrease to Purchases Discounts for $30.
• C)increase to Accounts Payable for $1,470.
• D)decrease to Cash for $1,470.

---

Definitions:

Individualized

Tailored or customized to meet the unique needs or characteristics of a specific person.

Self-reward

The act of giving oneself a reward to reinforce positive behavior, action, or achievement, often used as a motivational strategy.

Guidelines

Recommendations or principles provided to direct actions or decision-making in specific situations.

Positive Reinforcement

is a behavioral technique that involves providing a reward or positive outcome following a desired behavior, in order to increase the likelihood of that behavior being repeated.