Solved

Thunderstruck Plc Purchased £2,000 of Inventory,paying £800 Cash

Question 5

Multiple Choice

Thunderstruck plc purchased £2,000 of inventory,paying £800 cash.How would you record this transaction using double entry bookkeeping?


A) Debit cash £800, debit accounts payables £1,200 and credit inventory £2,000
B) Credit cash £1,200, credit accounts payables £800 and debit inventory £2,000
C) Credit cash £800, credit accounts payables £1,200 and debit inventory £2,000
D) Credit cash £800, debit inventory £800

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions