Answer:
(A)
inventory 8,000 debit
account payable 8,000 credit
to record purchase ofthe merchandise on account
(B)
account payable 8,000 debit
inventory 80 credit
cash 7,920 credit
to record payment within discount period
Explanation:
(A)
The company will increase his inventory by the nominal, and declare the account payable (liability) with his supplier.
(B)
We write-off the account payable.
We record the cash paid.
discount 2% x 8,000 = 80
8,000 - 80 = 7,920 cash disbursement
The difference decrease the inventory because, we are on perpetual inventory, <u>we adjust directly to inventory,</u> we don't use a discount account.
This is an example of<u> "unwilling to stand for what is right", </u>potential cause of unethical behavior.
Unethical behavior is an activity that falls outside of what is thought about ethically right or legitimate for a man, a calling or an industry. People can carry on deceptively, as can organizations, experts and government officials.
Unethical person is somebody who is inadequate with regards to standards or ethics. Since being unethical includes conflicting with social or expert desires for what's correct, it's a word that is frequently used to depict awful conduct or immoral conduct.
1. Exceptional life skills
2.NCARB
3. An architect
4. All of the above
5. It reveals possible number of jobs
6. None of the above
7. Government and private projects
8. Others as well as indepently
9. Traffic
10. Urban regions