Emerald Co

question 81

Multiple Choice

Emerald Co.uses a perpetual inventory system and records purchases of merchandise at net cost.The company recently purchased 200 compact discs at an invoice price of $6,000 and terms of 2/10,n/30.Half of these discs had been mislabeled and were returned immediately to the supplier.The journal entry to record payment of this invoice after the discount period has expired will include a:

• A)Debit to Inventory for $3,000.
• B)Credit to Cash for $3,000.
• C)Debit to an expense account for $60.
• D)Credit to Cash for $2,940.

---

Definitions:

Anorexia Nervosa

A disorder related to eating that involves significantly low body weight, a strong fear of weight gain, and a mistaken view of one's body size or form.

Distorted View

An inaccurate or biased perspective on reality, often influenced by mental health conditions or cognitive biases, leading to misinterpretation or misunderstanding of situations, events, or information.

Emaciated

An extreme level of thinness caused by lack of nutrition or disease, characterized by visible bone structures and loss of muscle mass.

William James

An American philosopher and psychologist, considered the "Father of American psychology," known for his works in pragmatism and functional psychology.