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EX 6-5 purchase-related transaction OBJ 2 The debits and credits from four related transactions are...

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Accounting

EX 6-5 purchase-related transaction OBJ 2 The debits and credits from four related transactions are presented in the following T accounts. Describe each transaction.

.............. Cash

... (2) 300
......... (4) 16,660

Accounts Payable

(3)3,920 (1)20,580
(4)16,660

Merchandise inventory

(1)20,580 (3)3,920
(2)300

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