Multiple Choice
On January 25, Blayne Corporation bought merchandise from a supplier for $3,600 on account. On February 20, Blayne paid the $3,600 owed to the supplier. The correct entry to record the purchase on January 25 is
A)
B)
C)
Inventory
Cost of Goods Sold
D)
Inventory
Accounts Payable
Correct Answer:

Verified
Correct Answer:
Verified
Q4: During March, Randolph Corporation completed the following
Q5: Expense accounts<br>A) Are increased with credit entries<br>B)
Q6: Owners' equity accounts are decreased with<br>A) Debit
Q7: Give the effect the following transactions would
Q8: Record the following transactions in journal entry
Q10: On July 24, Barkdull Inc. purchased
Q11: A trial balance shows that<br>A) No transactions
Q12: A journal entry that includes more than
Q13: Which of the following is the correct
Q14: If a company purchased equipment for cash,