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Choose right answer only: Question On February 02, 2023, purchase on credit of a...

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Accounting

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Question On February 02, 2023, purchase on credit of a stock of office supplies of $4,200 intended for use in the month of March. The company closes its accounts monthly, on the last day of the month. On February 2, 2023, you must: Question options:

Debit office supply inventory for $4,200, debit used office supplies for $4,200 and credit suppliers for $8,400

Debit used office supplies for $4,200 and credit vendors for $4,200

Debit stock of office supplies for $4,200 and credit suppliers for $4,200

Debit stock of office supplies for $4,200 and credit cash for $4,200

2) Question The Retail Company reported the following amounts in its 20X2 income statement: Purchases, $45,000; Early stock 20X2, $15,000; and Cost of Goods Sold, $50,000. What was the closing (ending) inventory of 20X2? Question options:

$25,000

$10,000

$26,000

$27,000

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