Some of MAC's transactions during the month of January are as follows.Which transaction,if any,is recognised as an expense for the month of January?
A) Paid $10 000 off a loan obtained during December.
B) Paid a supplier $200 for goods purchased on credit in November.
C) Purchased stationery to the value of $125 on credit, to be paid for in February.
D) Purchased a motor vehicle for $25 000 cash.
Correct Answer:
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