Business, 07.06.2020 00:04 kcarstensen59070
Suppose that on March 1, 2014 Cardullo's purchased an order of German chocolate from a supplier for $250, but didn't pay cash for the order until March 31, 2014. How would you record this transaction at the time of the purchase?
Answers
Answer from: halobry2003
Dr merchandise inventory $250
Cr accounts payable $250
Explanation:
The appropriate thing to do on the transaction date would be to recognize that $250 is being owed to the supplier from whom the German chocolate was bought by crediting accounts payable with $250 and debiting merchandise inventory with the same amount.
Upon payment on 31 March 2014,the accounts payable amount is reversed by a way of debit and cash account credited accordingly with the $250 to show an outflow of cash from the business.
Answer from: Quest
i tried to find the answe for you im sorry.
Answer from: Quest
answer; by looking at total product,marginal product,and changes in both after changes in inputs
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Suppose that on March 1, 2014 Cardullo's purchased an order of German chocolate from a supplier for...
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