Multiple Choice
Use the information given above to answer the following questions:
Brownlee Ltd is a newly established retail store selling plumbing hardware. Shown below are ledger accounts in T-account form, with entries made for the first 3 months of business.
-What does transaction (2) represent?
A) sale of inventory on credit
B) sale of inventory for cash
C) purchase of inventory on credit
D) purchase of inventory for cash.
Correct Answer:
Verified
Correct Answer:
Verified
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