Chang Ltd purchased $90,000 of inventory on credit.
What are the journal entries that will be entered in the accounting information system of Chang Ltd?

Question

Chang Ltd purchased $90,000 of inventory on credit. What are the journal entries that will be entered in the accounting information system of Chang Ltd?

Accepted Answer

DR               Inventory                                 $90,000 
            CR                    Accounts payable                 $90,000

Answer

DR               Inventory                                 $90,000 
            CR                    Cash                                       $90,000

Answer

DR               Inventory                                 $90,000 
            CR                    Sales revenue                          $90,000

Answer

DR               Inventory                                 $90,000 
            CR                    Accounts receivable                 $90,000

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Chang Ltd purchased $90,000 of inventory on credit. What are the journal entries...

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