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3.Under the perpetual inventory system what is the correct entry for the credit purchase of 5 washing machines at $300 per washing machine plus GST?
3.Under the perpetual inventory system what is the correct entry for the credit purchase of 5 washing machines at $300 per washing machine plus GST? (GST = 10%)
a.Dr Inventory $1,650; Cr accounts payable $1,500; Cr GST $150.
b.Dr Inventory $1,650; Cr Accounts Payable $1,650.
c.Dr Accounts Payable $1,650; Cr Inventory $1,500, Cr GST $150.
d.Dr Inventory $1,500,Dr GST $150;Cr Accounts Payable $1,650
e.Dr inventory $1,500;Cr Accounts payable $1,500.
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