ABC Company began operations on March 1, 2019.

Inventory Purchases: $10,500

Inventory Purchase Date: March 1, 2018

Payment Terms: 2/10/n/30

Payment Date: March 12, 2018

(a)Using the above information only, write the journal entry for March 12 payment on Inventory you had bought on March 1?

Use this format:

Debit Account Name

Credit Account Name

Note: Your entry may have more than one debit or credit

(b)After you made the payment, what is the balance in the Inventory account in your books?

(c) After you made the payment, what is the Accounts Payable Balance involving this scenario?