On May 14, HK Company purchases inventory of 80.000 TL + 10% VAT on account with terms of 2/10 net/30. Which of the following journal entries would be made? a. 88.000 TL debit to 153-Inventory and credit to 320-A/P b. 80.000 TL debit to 153-Inventory; 8.000 TL debit to 191-D. VAT and 88.000 TL credit to 320-A/P c. 72.727,27 TL debit to 153-Inventory; 7.272,73 TL debit to 191-D. VAT and 80.000 TL credit to 320-A/P d. 88.000 TL debit to 153-Inventory and 80.000 TL credit to 320-A/P; 8.000
On May 14, HK Company purchases inventory of 80.000 TL + 10% VAT on account with terms of 2/10 net/30. Which of the following journal entries would be made? a. 88.000 TL debit to 153-Inventory and credit to 320-A/P b. 80.000 TL debit to 153-Inventory; 8.000 TL debit to 191-D. VAT and 88.000 TL credit to 320-A/P c. 72.727,27 TL debit to 153-Inventory; 7.272,73 TL debit to 191-D. VAT and 80.000 TL credit to 320-A/P d. 88.000 TL debit to 153-Inventory and 80.000 TL credit to 320-A/P; 8.000
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter9: Current Liabilities And Contingent Obligations
Section: Chapter Questions
Problem 1RE: Rescue Sequences LLC purchased inventory by issuing a 30,000, 10%, 60-day note on October 1. Prepare...
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On May 14, HK Company purchases inventory of 80.000 TL + 10% VAT on account with terms of 2/10 net/30. Which of the following
a.
88.000 TL debit to 153-Inventory and credit to 320-A/P
b.
80.000 TL debit to 153-Inventory; 8.000 TL debit to 191-D. VAT and 88.000 TL credit to 320-A/P
c.
72.727,27 TL debit to 153-Inventory; 7.272,73 TL debit to 191-D. VAT and 80.000 TL credit to 320-A/P
d.
88.000 TL debit to 153-Inventory and 80.000 TL credit to 320-A/P; 8.000 TL credit to 391-R.VAT
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