Business, 20.10.2021 14:10 coolfab9338
On May 1, Anders Company purchased merchandise in the amount of $5,800 from Shilling, with credit terms of 2/10, n/30. Anders uses the perpetual inventory system and the gross method. The journal entry that Anders will make on May 1 is:.
a. Account Title Debit Credit
Sales 5,800
Accounts Receivable 5,800
b. Account Title Debit Credit
Merchandise Inventory 5,800
Accounts Payable 5,800
c. Account Title Debit Credit
Accounts Payable 5,800
Sales 5,800
d. Account Title Debit Credit
Merchandise Inventory 5,800
Cash 5,800
e. Account Title Debit Credit
Purchases 5,800
Accounts Payable 5,800
Answers: 3
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