Multiple Choice
On April 6,Lopez Co.purchased $5,000 of inventory,terms 1/15,n/30.Lopez Co.uses a perpetual inventory system.The company paid for the purchase on April 26.The entry to record the payment on April 26 includes which of the following?
A) A credit to Inventory for $50
B) A debit to Accounts Payable for $4,900
C) A credit to Accounts Payable for $5,000
D) A credit to Cash for $5,000
Correct Answer:
Verified
Correct Answer:
Verified
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