Smith Corporation uses the perpetual inventory method. On March 1, it
purchased $10,000 worth of inventory, terms 2/10, n/30. On March 3,
Smith returned goods that cost $1,000. On March 9, Smith paid the
supplier. On March 9, Smith should credit:

a.) inventory for $180
b.) purchase discounts for $200
c.) inventory for $200
d.) purchase discounts for $1802

What if a researcher answers this for you? When you become an
accountant and client asks you a similar question, what are you going
to do? Ask GA again?

If Steph21480 has to ask such simple questions ...

There is no way that s/he will ever become an accountant.

However, please don't despair because you could always teach accounting.

Trust me, there's no chance of me ever becoming an accountant! ;-) I
took this class thinking it'd be interesting but I'm having a lot of
trouble with it.

I'm trying to work my way through it, and if I see how someone else
comes to their answer, it'll help me figure out how to do the rest of
the problems.

Hi Steph21480!!!

I'm steph53...heheheh.

Steph53

Omigod ... TWO Stephs!

What next?

Worried of Hove

Three Stephs?