August 1 Beg. Inventory 70 units at $2 August 8 Purchase 100 units at $3 August 15 Sold 90 units Young, Inc., a make-up distributor, uses a perpetual inventory system Young had the following August transactions and uses the LIFO inventory costing method Using the LIFO inventory costing method, what is the amount remaining in ending inventory after the 8/15 sale? $200,00 $220.00 $270.00 $170.00 Debit Credit A. Cash $101,500 Notes Payable $101,500 B. Notes Payable $100,000 Interest Expense 1,500 Cash $101,500 C. Cash $101,500 Notes Receivable $100,000 Interest Revenue $1,500 D. None of the above Turkey, Inc. borrows $100,000 cash on April 1, 2019 by signing a 90 day 6% note. What would be the journal entry that Turkey would record when it repays the note on the note's maturity date? A B D