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How should the following transaction be recorded by a business that uses a perpetual inventory system? Paid the monthly rent of $2,000 (Cheque #135)
How should the following transaction be recorded by a business that uses a perpetual inventory system? Paid the monthly rent of $2,000 (Cheque #135) Select one: a. Cash Receipts Journal; Account: Rent; Cheque #: 135; Other: $2,000 DR; Cash: $2,000 CR b. Cash Payments Journal; Account: Rent; Cheque #: 135; Other: $2,000 DR; Cash: $2,000 DR c. Purchases Journal; Account: Rent; Cheque #: 135; Other: $2,000 DR; Cash: $2,000 CR d. Cash Payments Journal; Account: Rent; Cheque #: 135; Other: $2,000 DR; Cash: $2,000 CR
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