Business, 16.04.2020 02:24 Scoopaloop

A company purchases inventory for $10,000, with terms 3/10, n/30. The company uses a perpetual system and the net method to record purchases. To record this transaction, the company debits the Inventory account for $9,970. Which of the following statements is correct?
a. The company should instead credit Inventory. b. The company should instead debit Purchases. c. The recorded amount should instead be $9,700.d. Two of the other answers are correct.

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A company purchases inventory for $10,000, with terms 3/10, n/30. The company uses a perpetual syste...

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