Brooke Company purchased $8,000 of merchandise with terms of 2/10,n/60 and paid the invoice within the discount period.The company uses the periodic inventory method and the voucher system.If Brooke's uses the net method of recording merchandise purchases,the $160 purchases discount is:
A) recorded in the voucher register.
B) recorded in the check register.
C) recorded in the general journal.
D) not recorded unless the discount is lost after the discount date.
Correct Answer:
Verified
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