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2 years ago

11

Adidea Corp regularly buts merchandise from vendors. It just purchased 1,000 units on credit from one of its vendors. How will t

he company record this transaction

1 answer:

Lostsunrise [7]2 years ago

7 0

Answer:

You did not include the price they bought the units at.

I will assume this price is $5.

= 5 * 1,000

= $5,000

Recording it will be:

Account Debit Credit

Merchandise Inventory $5,000

Accounts Payable $5,000

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