What are inventory and accounts payable back to board

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What are Inventory and Accounts Payable? Back to Board
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Purchase Transactions - $200 This expression describes reductions in the cost  of inventory purchases associated with  unsatisfactory goods. What are Purchase Returns and Allowances? Back to Board
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Purchase Transactions - $300 These accounts are affected by a Purchase  Return or Allowance when the purchase was  previously made on credit and has not yet been  paid. What are Accounts Payable and Inventory? Back to Board
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Purchase Transactions - $400 A Purchase Discount that offers a 2% discount if  paid within 10 days, otherwise the balance due  in 30 days. What is 2/10, n/30? Back to Board
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Purchase Transactions - $500 The general characteristics of costs that are  included in Inventory. What are any costs needed to get inventory into a  condition and location ready for sale? Back to Board
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Sales Transactions - $100 This expression describes payment reductions  given to customers after goods have been sold  and found unsatisfactory. What are Sales Returns and Allowances? Back to Board
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Sales Transactions - $200 In a perpetual inventory system, these accounts are  affected by a sale of merchandise inventory.
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