Ace Bonding Company purchased merchandise inventory on account.The inventory costs $2,000 and is expected to sell for $3,000.How should Ace record the purchase?

Name: Ace Bonding Company purchased merchandise inventory on account.The inventory costs $2,000 and is expected to sell for $3,000.How should Ace record the purchase?
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The Answer of Ace Bonding Company purchased merchandise inventory on account.The inventory costs $2,000 and is expected to sell for $3,000.How should Ace record the purchase?

Ace Bonding Company Purchased Merchandise Inventory on Account