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The entity Parkville Blues Trading Pty Ltd' submits the following financial data for your review.- Accounts payable at 1 July 2019 $190,000; Accounts payable at
The entity Parkville Blues Trading Pty Ltd' submits the following financial data for your review.- Accounts payable at 1 July 2019 $190,000; Accounts payable at 30 June 2020 $170,000; Credit sales $620,000 and Purchase discount (Discount received) $4,000.- Inventory at 1 July 2019 $160,000; Inventory as at 30 June 2020 $200,000: cost of sales $240,000; inventory gain $3,000 and inventory write down $2,000, The financial period is from 1 July 2019 to 30 June 2020. Disregard GST for this question. All purchases are on account. Required: What amount would be the entry for inventory purchase on account for the period ending 30 June 2020? Group of answer choices Debit (DR): Inventory $279,000 and Credit (CR): Accounts payable $279,000- Debit (DR): Inventory $281,000 and Credit (CR): Accounts payable $281.000 Debit (DR): Inventory $199,000 and Credit (CR): Accounts payable $199,000 Debit (DR): Accounts payable $201,000 and Credit (CR): Inventory $201,000+ C Debit (DR): Inventory $201.000 and Credit (CR): Accounts payable $201.000
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