On june 1, addison company purchased $ 10,000 of inventory on account from garrison company. garrison offers a 4% discount if payment is received within 15 days. addison records the purchase using the gross method and the perpetual inventory system. the journal entry on june 1 by addison company includes:
a. a debit to inventory for $9,600
b. a credit to cash for $10,000
c. a debit to inventory for $10,000
d. a credit to accounts payable for $9,600
Answers: 2
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On june 1, addison company purchased $ 10,000 of inventory on account from garrison company. garriso...
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