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Consider the following invoice that a company received from its supplier. ...

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Consider the following invoice that a company received from its supplier.

Which one of the following statements is true?

		Left (DR)	Right (CR)
C.	Cost for merchandise	60,000
A.	Input VAT	11,000
A.	Advance payment to suppliers		10,000
L.	Account payable		61,000

		Left (DR)	Right (CR)
C.	Cost for merchandise	60,000
A.	Input VAT	11,000
R.	Advance payment to suppliers		10,000
L.	Account payable		61,000

		Left (DR)	Right (CR)
A.	Account receivables	61,000
A.	Advance payments from customers	10,000
R.	Sales revenues		60,000
L.	Output VAT		11,000

		Left (DR)	Right (CR)
A.	Account receivables	61,000
C.	Advance payments from customers	10,000
R.	Sales revenues		60,000
L.	Output VAT		11,000

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