Identify the journal entry required to correctly record each of the following transactions.
-Purchased goods on credit.
A. DR Inventory $\quad $ CR Accounts payable

B. DR Inventory $\quad $ CR Accounts receivable

C. DR Accounts $\quad $ Receivable $\mathrm { CR }$ inventory

D. DR Purchases CR Cash at bank

Question

Identify the journal entry required to correctly record each of the following transactions.
-Purchased goods on credit.
A. DR Inventory  $\quad $ CR Accounts payable

B. DR Inventory  $\quad $ CR Accounts receivable

C. DR Accounts  $\quad $ Receivable $\mathrm { CR }$ inventory

D. DR Purchases CR Cash at bank

Quizplus · Accepted Answer

The Answer of Identify the journal entry required to correctly record each of the following transactions.
-Purchased goods on credit.
A. DR Inventory  $\quad $ CR Accounts payable

B. DR Inventory  $\quad $ CR Accounts receivable

C. DR Accounts  $\quad $ Receivable $\mathrm { CR }$ inventory

D. DR Purchases CR Cash at bank

Identify the Journal Entry Required to Correctly Record Each of the Following