Determining the Financial Statement Effects of Accounts Payable Transactions transactions. 3. Purchases $1,260 of inventory on credit. b. Sells inventory for $1,650 on credit. c. Records $1,260 cost of sales for transaction b. d. Receives $1,650 cash toward accounts receivable. e. Pays $1,260 cash to settle accounts payable. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. rease answer all parts or the queston