A company uses the perpetual inventory system and recorded the following entry: This entry reflects a:
A)Purchase.
B)Return.
C)Sale.
D)Payment of the account payable and recognition of a cash discount taken.
E)Purchase and recognition of a cash discount taken.

Question

A company uses the perpetual inventory system and recorded the following entry:  This entry reflects a:
A)Purchase. 
B)Return. 
C)Sale. 
D)Payment of the account payable and recognition of a cash discount taken. 
E)Purchase and recognition of a cash discount taken.

Quizplus · Accepted Answer

The Answer of A company uses the perpetual inventory system and recorded the following entry:  This entry reflects a:
A)Purchase. 
B)Return. 
C)Sale. 
D)Payment of the account payable and recognition of a cash discount taken. 
E)Purchase and recognition of a cash discount taken.

A Company Uses the Perpetual Inventory System and Recorded the Following