Which one of the following transactions is recorded with the same entry in a perpetual and a periodic inventory system?
A) Cash received on account with a discount
B) Payment of freight costs on a purchase
C) Return of merchandise sold
D) Sale of merchandise on credit

Question

Quizplus · Accepted Answer

In both perpetual and periodic inventory systems, cash received on account with a discount is recorded in the same way, as it affects accounts receivable and sales discounts, not inventory accounts.

Which One of the Following Transactions Is Recorded with the Same