The accounting system of Rose and Tea Fine Kitchenware includes the following journals. Indicate which journal is used to record each transaction
Journals
Transactions
1. Purchased merchandise for $4,000; the terms are 2/10, 1/30.
2. Returned damaged merchandise to a supplier and received a credit memorandum for $900,
3. Issued a check for $4,600 to a supplier as a payment on account
4. Purchased merchandise for $2,000 plus a freight charge of $200; the supplier's invoice is payable in 30 days.
5. Received an allowance for merchandise that was damaged but can be sold at a reduced price; the supplier's credit memorandum is for
$425.
6. Purchased merchandise for $3,725 in cash.
PLEASE HELP

Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.

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