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On August 1, Nevling Brothers bought goods with a list price of $14,400, terms 2/10,...

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Accounting

On August 1, Nevling Brothers bought goods with a list price of $14,400, terms 2/10, n/30. The firm records purchases at invoice price, using the periodic inventory system. On August 5, Nevling Brothers returned goods with a list price of $1,800 for credit. If Nevling Brothers paid the supplier the amount due on August 9, the appropriate entry would be:

Select one:

A.

Accounts Payable

12,600

Cash

12,600

B.

Accounts Payable

12,600

Purchases Discounts

252

Cash

12,348

C.

Accounts Payable

12,348

Cash

12,348

D.

Accounts Payable

14,400

Purchases Discounts

288

Cash

14,112

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