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Author Question: If a company uses the net method to record purchases, but fails to pay within the discount period, ... (Read 80 times)

Medesa

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on: Feb 18, 2020
If a company uses the net method to record purchases, but fails to pay within the discount period, which account is debited or credited for the lost discount?
◦ Accounts Payable, debited
◦ Accounts Payable, credited
◦ Inventory, credited
◦ Inventory, debited
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by Medesa on Feb 18, 2020

annierak

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Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Medesa

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Reply 2 on: Feb 18, 2020
Great answer, keep it coming :)

sultansheikh

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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