132) On May 1, a company purchased inventory costing $2,000 on account with terms 2/10, n/30. On May 8, the company pays for this inventory and records which of the following using a perpetual inventory system? 1. Accounts Payable Cash 2. Accounts Payable Inventory Cash 3. Accounts Payable Inventory Cash 4. Cash 2,000 1,960 40 2,000 2,000 2,000 2,000 40 1,960
132) On May 1, a company purchased inventory costing $2,000 on account with terms 2/10, n/30. On May 8, the company pays for this inventory and records which of the following using a perpetual inventory system? 1. Accounts Payable Cash 2. Accounts Payable Inventory Cash 3. Accounts Payable Inventory Cash 4. Cash 2,000 1,960 40 2,000 2,000 2,000 2,000 40 1,960
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 3E: Basga Company uses the periodic inventory system. Beginning inventory amounted to 241,072. A...
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