Multiple Choice
Bethany Industries purchased $3,000 of merchandise inventory,paying cash for 20% of the purchase,with the remainder on account.The entry would include a
A) debit to Cash for $600,debit to Accounts Payable for $2,400,and credit to Merchandise Inventory for $3,000.
B) debit to Cash for $800,debit to Notes Payable for $2,200,and credit to Merchandise Inventory for $3,000.
C) debit to Merchandise Inventory for $3,000,credit to Cash for $600,and credit to Notes Payable for $2,400.
D) debit to Merchandise Inventory for $3,000,credit to Cash for $600,and credit to Accounts Payable for $2,400.
E) debit to Merchandise Inventory for $600,and credit to Cash for $600.
Correct Answer:

Verified
Correct Answer:
Verified
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