Tayler Corporation Purchased Merchandise from Brandon Corporation for Cash

question 36

Multiple Choice

Tayler Corporation purchased merchandise from Brandon Corporation for cash. The journal entry for Tayler Corporation under a periodic inventory system will be:

• A) debit Inventory; credit Cash.
• B) debit Purchases; credit Cash.
• C) debit Inventory; credit Accounts Payable-Brandon Corporation.
• D) debit Inventory; credit Accounts Receivable-Taylor Corporation.
• E) debit Purchases, credit Accounts Payable -Brandon Corporation.

---

Definitions:

Senate

The upper chamber of the United States Congress, consisting of two senators from each state, responsible for making and passing federal laws.

Executive Agreement

An agreement made between the President and a foreign government that is less formal than a treaty and does not require Senate ratification.

Advice And Consent

A constitutional power given to the U.S. Senate to ratify treaties and approve presidential appointments to the executive and judicial branches.

President

The head of state and head of government in a republic, particularly referring to the chief executive of the United States.