A company purchased inventory for $3,000 from a vendor on account, FOB shipping point, with...
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Accounting
A company purchased inventory for $3,000 from a vendor on account, FOB shipping point, with terms of 2/10, n/30. The company paid $200 cash for freight in. The entry to record the payment of the invoice within 10 days of the invoice date by the purchaser would include (Assume a perpetual inventory system.) F6 > A a debit to Accounts Payable for $3,000, a credit to Merchandise Inventory for $60, and a credit to Cash for $2.940 B. a debit to Accounts Payable for $2,940 and a credit to Cash for $2,940 C. a debit to Accounts Payable for $3,000, a credit to Merchandise Inventory for $200, and a credit to Cash for $2,800 D. a debit to Accounts Payable for $2,940, a debit to Merchandise Inventory for $60, and a credit to Cash for $3,000
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