Question

Merchandise inventory was purchased on account for $$1,000$ with $$200$ paid in cash and the

rest charged on account. What are the journal entries?

Debit cash for $$200,$ credit inventory for $$1,000$ and debit sales for $$800$

Debitimentory for $$2,000,$ credit cash for $$200$ and credit accounts payable for $$800$

Debitaccounts receivable for $$800,$ credit cash for $$200$ and credit equity for $$1,000$

Debit sales for $$1,000,$ credit inventory for $$800$ and credit cash for $$200$