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Consider the following transaction: Purchase $5,000 of inventory with a note payable. What is the appropriate journal entry for this transaction? Debit Inventory $5,000 and

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Consider the following transaction: Purchase $5,000 of inventory with a note payable. What is the appropriate journal entry for this transaction? Debit Inventory $5,000 and Credit Notes Payable $5,000 Debit Notes Payable $5,000 and Credit Inventory $5,000 Debit Inventory $5,000 and Credit Cash $5,000 Debit Cash $5,000 and Credit Inventory $5,000

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