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 do transactions (6A)and (6B)represent?
A) sale of goods on credit and later collection of cash
B) sale of goods on credit and for cash
C) receipt of cash and purchase of inventory
D) sale of goods for cash.

Question

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 do transactions (6A)and (6B)represent?
A) sale of goods on credit and later collection of cash 
B) sale of goods on credit and for cash 
C) receipt of cash and purchase of inventory 
D) sale of goods for cash.

Quizplus · Accepted Answer

The Answer of 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 do transactions (6A)and (6B)represent?
A) sale of goods on credit and later collection of cash 
B) sale of goods on credit and for cash 
C) receipt of cash and purchase of inventory 
D) sale of goods for cash.

Use the Information Given Above to Answer the Following Questions