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In perpetual inventory system we learned from class, if the business purchased $800 inventory and $300 office supplies on account, the accounting entry for the
In perpetual inventory system we learned from class, if the business purchased $800 inventory and $300 office supplies on account, the accounting entry for the purchase will be: A. Dr. Inventory 800 and Office supplies 300, Cr. Accounts Payable 1,100 OB. Inventory 1100, Cr. Accounts Payable 1,100 OC. Inventory 800 Cr. Accounts Payable 800 OD. Office Supplies 1,100 Cr. Accounts Payable 1,100 Clear my choice
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