FINE acquires in December 2018 1,000 units of merchandise @ 10 RON each. These are delivered in December 2018, while payment is due in January 2019. FINE sells 100 units of those merchandise in 2018, for 15 RON each, for cash. Based on these transactions only, which of the following statements is correct regarding FINEs financial statements for 2019?

Choose one :

Cash decreases by 10,000 RON

The cost of merchandise sold is 1,500 RON

Revenues increase by 1500 RON

Accounts payable decrease by 500 RON