Bruce's Jewelry bought 50 rings for $10 each on account. The invoice included 13% HST and payment terms of 2/10, n/30. In addition, five rings were later returned prior to payment. The entry to record the purchase would include
A) a debit to Accounts Payable for $500.00.
B) a debit to Accounts Payable for $565.00.
C) a debit to Inventory for $500.00.
D) a debit to Inventory for $565.00.
Correct Answer:
Verified
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