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When purchasing material for inventory, the invoice price is $500 higher than the purchase order price due to a fuel surcharge. The purchase order price
When purchasing material for inventory, the invoice price is $500 higher than the purchase order price due to a fuel surcharge. The purchase order price is $6,000. Which of the following are the consequences of posting the vendor invoice? Assume NO inventory is available at invoice receipt. (3 correct answers) The inventory account is debited by $500 The GR/IR account is credited by $500 The price difference account is debited by $500 The vendor account is credited by $6500 The vendor account is credited by $500 The GR/IR account is debited by $6000
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