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Author Question: The journal entry to record the receipt of inventory purchased for cash in a perpetual inventory ... (Read 184 times)

penza

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on: Jul 5, 2018
The journal entry to record the receipt of inventory purchased for cash in a perpetual inventory system would be
 a. Jan. 1 Merchandise Inventory
  Cash 1,500
  1,500
  b. Jan. 1 Office Supplies
  Cash 1,500
  1,500
  c. Jan. 1 Purchases
  Accounts Payable 1,500
  1,500
  d. Jan. 1 Cash
  Accounts Receivable 1,500
  1,500

Question 2

Making a comparison between the cash balance in the accounting records and on the bank statement is called a bank reconciliation.
 
  Indicate whether the statement is true or false


cupcake16

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Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

TRUE


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penza

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Reply #2 on: Jul 5, 2018
Correct answers!


cupcake16

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Reply #3 on: Jul 5, 2018
Great! Please up vote :D


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