Given the following accounts:
[1] Cash
[2] Accounts receivable
[3] Merchandise inventory
[4] Supplies
[5] Accounts payable
[6] Sales
[7] Sales returns and allowances
[8] Sales discounts
[9] Cost of goods sold
[10] Purchases
[11] Purchase returns and allowances
[12] Purchase discounts
[13] Freight-in
Indicate the account(s) to be debited and credited to record the following transactions.
-Purchased merchandise with credit terms of 2/10,n/30.- Periodic
Debit ________ & ________ Credit ________ & ________

Question

Given the following accounts:
[1]	Cash
[2]	Accounts receivable
[3]	Merchandise inventory
[4]	Supplies
[5]	Accounts payable
[6]	Sales
[7]	Sales returns and allowances
[8]	Sales discounts
[9]	Cost of goods sold
[10]	Purchases
[11]	Purchase returns and allowances
[12]	Purchase discounts
[13]	Freight-in
Indicate the account(s) to be debited and credited to record the following transactions.
-Purchased merchandise with credit terms of 2/10,n/30.- Periodic
Debit ________ & ________ Credit ________ & ________

Quizplus · Accepted Answer

The Answer of Given the following accounts:
[1]	Cash
[2]	Accounts receivable
[3]	Merchandise inventory
[4]	Supplies
[5]	Accounts payable
[6]	Sales
[7]	Sales returns and allowances
[8]	Sales discounts
[9]	Cost of goods sold
[10]	Purchases
[11]	Purchase returns and allowances
[12]	Purchase discounts
[13]	Freight-in
Indicate the account(s) to be debited and credited to record the following transactions.
-Purchased merchandise with credit terms of 2/10,n/30.- Periodic
Debit ________ & ________ Credit ________ & ________

Given the Following Accounts