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Julissa Company Sold Merchandise in the Amount of $17,400 to Nunez

Question 40

Multiple Choice

Julissa Company sold merchandise in the amount of $17,400 to Nunez Company on September 1, with credit terms of 2/10, n/30. The cost of the merchandise is $7,200. On September 4, Nunez returns some of the merchandise, which was put back into Julissa's inventory. The selling price and the cost of the returned merchandise are $2,400 and $1,500, respectively.
Nunez Company's journal entry on September 8, when they pay the amount due, will include: (assume both companies use the perpetual inventory method)


A) Credit Purchase Discounts $300
B) Credit Cash $15,582
C) Debit Accounts Payable $15,000
D) Credit Sales Discounts $300

Correct Answer:

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