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On September 12,Ryan Company Sold Merchandise in the Amount of $5,800

Question 120

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On September 12,Ryan Company sold merchandise in the amount of $5,800 to Johnson Company,with credit terms of 2/10,n/30.The cost of the items sold is $4,000.Johnson uses the periodic inventory system and the net method of accounting for purchases.The journal entry that Johnson will make on September 12 is:


A)  Purchases 5,800 Accourits payable 5,800\begin{array} { | l | r | r | } \hline \text { Purchases } & 5,800 & \\\hline \text { Accourits payable } & & 5,800 \\\hline\end{array}
B)  Purchases 5,684 Accourits payable 5,684\begin{array} { | l | r | r | } \hline \text { Purchases } & 5,684 & \\\hline \text { Accourits payable } & & 5,684 \\\hline\end{array}
C)  Merchandise inventory 5,684 Accounts payable 5,684\begin{array}{|l|r|r|}\hline \text { Merchandise inventory } & 5,684 & \\\hline \text { Accounts payable } & & 5,684 \\\hline\end{array}
D)  Merchandise inventory 5,800 Accounts payable 5,800\begin{array}{|l|r|r|}\hline \text { Merchandise inventory } & 5,800 & \\\hline \text { Accounts payable } & & 5,800 \\\hline\end{array}
E)  Accounts payable 4,000 Merchandise inventory 4,000\begin{array}{|l|r|r|}\hline \text { Accounts payable } & 4,000 & \\\hline \text { Merchandise inventory } & & 4,000 \\\hline\end{array}

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