Debt securities represent an investment by one company into the common or preferred shares of another company

The purchase discount amount is calculated on the amount of the invoice minus the returns and allowances

Indicate whether the statement is true or false

Tryst, Inc. has a policy of accruing $2,300 for every employee as a vacation benefit. Sarah, an employee, took a vacation. Which of the following is the correct journal entry for the vacation benefit paid?

A) Vacation Benefits Payable 1,917 Vacation Benefits Expense 1,917 B) Vacation Benefits Expense 2,300 Cash 2,300 C) Vacation Benefits Payable 2,300 Cash 2,300 D) Vacation Benefits Expense 1,917 Vacation Benefits Payable 1,917