Question
Which of the following entry is correct for the transaction Purchased inventory for $5,000; paid $1,000 cash and the rest will be paid in 30
Which of the following entry is correct for the transaction Purchased inventory for $5,000; paid $1,000 cash and the rest will be paid in 30 days.?
| DR Inventory 5000, CR Cash 1000, CR Account Payable 4000 | ||
| DR Inventory 5000, CR Cash 1000, CR Loan Payable 4000 | ||
| DR Account Receivable 5000, CR Cash 1000, CR Inventory 4000 | ||
| DR Account Receivable 5000, CR Cash 1000, CR Account Payable 4000 | ||
| None of the above |
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, Srikant M. Datar, George Foster
12th edition
978-0131495388
