Tin Co purchases $250 worth of metal from Steel Co. Tin Co agrees to pay Steel Co in 60 days time.What is the double entry to record the purchase in Steel 0〇!3 books?
A、Debit sales $250, credit receivables $250
B、Debit purchases $250, credit payables $250
C、Debit receivables $250, credit sales $250
D、Debit payables $250, credit purchases $250
A、Debit sales $250, credit receivables $250
B、Debit purchases $250, credit payables $250
C、Debit receivables $250, credit sales $250
D、Debit payables $250, credit purchases $250
【参考答案及解析】
You are recording the transaction in Steel Co’s books - Steel Co is the seller, so the double entry
You are recording the transaction in Steel Co’s books - Steel Co is the seller, so the double entry