A Supplier Sold Inventory to Bikes & Autos Pty Ltd

question 10

Multiple Choice

A supplier sold inventory to Bikes & Autos Pty Ltd valued at $9000.Bikes & Autos Pty Ltd paid half in cash and received 30 days credit for the balance owing.The debit and credit entries for Bikes & Autos Pty Ltd are:

• A) debit cash $9000; credit accounts receivable $4500, credit sales $4500.
• B) debit inventory $9000; credit accounts payable $4500, credit cash $4500.
• C) debit cash $4500, debit accounts receivable $4500; credit inventory $9000.
• D) debit accounts payable $4500, debit cash $4500; credit inventory $9000.

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