Question
The firm purchased 100,000 TL of commercial goods including VAT. In return, firm gave 50,000 TL in cash and 20,000 TL in check, and promissed
The firm purchased 100,000 TL of commercial goods including VAT. In return, firm gave 50,000 TL in cash and 20,000 TL in check, and promissed to pay the remaining within 5 months. How do accounts change in the journal entry of this transaction?
- A.
153 +, 391 +, 100 -, 103 +, 320 -
- B.
153 +, 191 -, 100 -, 103 +, 120 +
- C.
153 +, 191 +, 100 -, 103 +, 320 +
- D.
152 +, 191 +, 102 -, 103 +, 120 +
- E.
600 +, 391 +, 100 -, 101 +, 120 +
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Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
18th edition
1260190080, 1260190083, 978-1259917059
