Joyce's Accessories bought 60 necklaces for $10 each on account.The invoice included a 5% sales tax and payment terms of 2/10,n/30.In addition,5 necklaces were returned prior to payment.The entry to record the purchase would include:
A) a debit to Accounts Payable for $530.
B) a debit to Accounts Payable for $500.
C) a debit to Purchases for $630.
D) a debit to Purchases for $500.
Correct Answer:
Verified
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