The company quickly acquired $45,000 in inventory, 30% of which was acquired on
ID: 2530553 • Letter: T
Question
The company quickly acquired $45,000 in inventory, 30% of which was acquired on open accounts that were payable after 30 days. The rest was paid for in cash.(choose an option for the account and answer the dollar amount based on the account )
1) Account: Dollar Amount:
A)Cash b) Account receivable C) Inventory D) Repaid rent E) Fixture and Equipment F) Account Payable G) Interest Payable H) Wages payable I) Notes payable K) Paid-in capital L) Retained Earning M) Leave Blank
2)Account: Dollar Amount:
A)Cash b) Account receivable C) Inventory D) Repaid rent E) Fixture and Equipment F) Account Payable G) Interest Payable H) Wages payable I) Notes payable K) Paid-in capital L) Retained Earning M) Leave Blank
3)Account: Dollar Amount:
A)Cash b) Account receivable C) Inventory D) Repaid rent E) Fixture and Equipment F) Account Payable G) Interest Payable H) Wages payable I) Notes payable K) Paid-in capital L) Retained Earning M) Leave Blank
4)Account: Dollar Amount:
A)Cash b) Account receivable C) Inventory D) Repaid rent E) Fixture and Equipment F) Account Payable G) Interest Payable H) Wages payable I) Notes payable K) Paid-in capital L) Retained Earning M) Leave Blank
5)Account: Dollar Amount:
A)Cash b) Account receivable C) Inventory D) Repaid rent E) Fixture and Equipment F) Account Payable G) Interest Payable H) Wages payable I) Notes payable K) Paid-in capital L) Retained Earning M) Leave Blank
Explanation / Answer
Account Dollar amount Cash -31500 Inventory 45000 Account Payable 13500