Kizspy | Question: 23
(Choose 1 answer)
A company uses a perpetual inventory system. It purchased merchandise on account for $15,000 with terms
2/10, n/30. The company paid the amount due within the discount period. What is the journal entry to record
the payment?
A. Debit Accounts Payable $15,000; Credit Cash $14,700; Credit Inventory $300
B. Debit Accounts Payable $14,700; Credit Cash $14,700
C. Debit Accounts Payable $15,000; Credit Cash $15,000
D. Debit Inventory $300; Credit Cash $300
E. Debit Accounts Payable $14,700; Credit Inventory $14,700
