Booker's Company purchased $6,000 of merchandise with terms of 5/10, n/60 and paid the invoice within the discount period. Brooke uses the periodic and voucher systems. If Booker's uses the net method of recording merchandise purchases, the $300 purchases discount is recorded in:
A) the voucher register.
B) the check register.
C) the general journal.
D) None of these answers is correct.

Question

Quizplus · Accepted Answer

The Answer of Booker's Company purchased $6,000 of merchandise with terms of 5/10, n/60 and paid the invoice within the discount period. Brooke uses the periodic and voucher systems. If Booker's uses the net method of recording merchandise purchases, the $300 purchases discount is recorded in:
A) the voucher register.
B) the check register.
C) the general journal.
D) None of these answers is correct.

Booker's Company Purchased $6,000 of Merchandise with Terms of 5/10