25 - On 12.12.20XX, the entity purchased goods worth $ 50,000 from entity B on credit. Exchange rate on the day of the transaction $ 1 = 2.5 TL (VAT is not taken into account) A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 50000 300 BANK CREDITS 50000
25 - On 12.12.20XX, the entity purchased goods worth $ 50,000 from entity B on credit. Exchange rate on the day of the transaction $ 1 = 2.5 TL (VAT is not taken into account) A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 153 COMMERCIAL GOODS 50000 300 BANK CREDITS 50000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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25 - On 12.12.20XX, the entity purchased goods worth $ 50,000 from entity B on credit. Exchange rate on the day of the transaction $ 1 = 2.5 TL (VAT is not taken into account)
A) CODE AND NAME OF THE
153 COMMERCIAL GOODS 50000
300 BANK CREDITS 50000
B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT
153 COMMERCIAL GOODS 125000
300 BANK CREDITS 125000
C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT
153 COMMERCIAL GOODS 50000
320 SELLERS 50000
D) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT
153 COMMERCIAL GOODS 125000
321 BORROWINGS 125000
E) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT
153 COMMERCIAL GOODS 125000
320 SELLERS 125000
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