Author Question: Team Shirts, Inc. pays 5,000 cash for T-shirts from a supplier. This transaction ________. A) is ... (Read 60 times)

DyllonKazuo · **on:** Jul 5, 2018

Team Shirts, Inc. pays 5,000 cash for T-shirts from a supplier. This transaction ________.

A) is a financing activity
B) causes an increase in total assets
C) is an operating activity
D) is an investing activity

Question 2

Merchandise is ordered on November 10; the merchandise is shipped by the seller and the invoice is prepared, dated, and mailed by the seller on November 13; the merchandise is received by the buyer on November 18; the entry is made in the buyer's accounts on November 20 . The credit period begins with what date?
a. November 10
b. November 13
c. November 18
d. November 20