Beetles Company Recorded the Following Journal Entry on March 2

question 97

Multiple Choice

Beetles Company recorded the following journal entry on March 2, 2016. From the journal entry above, identify the transaction on March 2, 2016.

• A) Beetles purchased goods worth $10,500 and signed a one-year note for the same.
• B) Beetles sold goods for $10,500 cash.
• C) Beetles received $10,500 for services to be performed in a later period.
• D) Beetles paid $10,500 for services to be received at a later date.