15 On May1 Ace Bonding Company purchased inventory costing 2

15. On May.1, Ace Bonding Company purchased inventory costing $2,000 on account. If credit terms are 2/10, using a n30 and Ace pays for this inventory on May 30 which of the following records the payment perpetual inventory system Accounts Payable 2,00 Cash 2,000 B Accounts Payable 1.96 Inventory 40 Cash 2,000 Accounts Payable 2,00 40 Inventory Cash 1,96 Cash 2,000 Accounts Payable 2,00

Solution

Answer is A

General Journal	Debit	Credit
Accounts Payable	$2,000
Cash		$2,000