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Author Question: Under the perpetual inventory system, a company purchases merchandise on terms 2/10, n/30 . The ... (Read 67 times)

mmm

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on: Jul 5, 2018
Under the perpetual inventory system, a company purchases merchandise on terms 2/10, n/30 . The entry to record the purchase will include a debit to Cash and a credit to Sales.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

The effect of drawing transactions on the capital account is formalized at any time during the accounting period.
 a. True
   b. False
   Indicate whether the statement is true or false


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katkat_flores

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Reply #1 on: Jul 5, 2018
Answer to Question 1

False

Answer to Question 2

False


mmm

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Reply 2 on: Jul 5, 2018
:D TYSM

ashely1112

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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