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On July 24, Barkdull Inc  Inventory 4,000 Cash 4,000\begin{array} { c c } \text { Inventory } & 4,000 \\\text { Cash } & 4,000\end{array}

Question 62

Multiple Choice

On July 24, Barkdull Inc. purchased $4,000 of inventory on account. On August 3, Barkdull, sold $2,000 of inventory for $1,000 cash and $2,000 on credit. The correct entry by Barkdull Inc. to record the purchase of inventory on July 24 is


A)
 Inventory 4,000 Cash 4,000\begin{array} { c c } \text { Inventory } & 4,000 \\\text { Cash } & 4,000\end{array}
B)
 Accounts Payable 4,000 Inventory 4,000\begin{array} { c c } \text { Accounts Payable } & 4,000 \\\text { Inventory } & 4,000\end{array}
C)
 Inventory 4,000 Accounts Payable 4,000\begin{array} { l l l } \text { Inventory } & 4,000 & \\\text { Accounts Payable } & & 4,000\end{array}
D)
Cash 4,000\quad 4,000
Inventory 4,000\quad 4,000

Correct Answer:

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