Burton Company purchased goods for resale. Burton Company paid some cash for the purchase and...
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Accounting
Burton Company purchased goods for resale. Burton Company paid some cash for the purchase and the remainder was put on the companys credit accounts with its suppliers. What is the effect of this transaction on the accounting equation? Inventory DOWN, Cash DOWN, Accounts Payable DOWN Inventory UP Cash UP Accounts Payable DOWN Inventory UP Cash DOWN, Accounts Payable UP Inventory DOWN, Cash UP Accounts Payable UP
Burton Company purchased goods for resale. Burton Company paid some cash for the purchase and the remainder was put on the companys credit accounts with its suppliers.
What is the effect of this transaction on the accounting equation?
Inventory DOWN, Cash DOWN, Accounts Payable DOWN
Inventory UP Cash UP Accounts Payable DOWN
Inventory UP Cash DOWN, Accounts Payable UP
Inventory DOWN, Cash UP Accounts Payable UP
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