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What the transaction was for z-mart

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Reference no: EM132568638

Z-Mart uses the perpetual inventory system and recorded the following journal entry:

Accounts Payable2,500

Merchandise Inventory 50

Cash 2,450

Question 1: The transaction was

Multiple Choice

Option 1: A purchase

Option 2: A return and payment of the account payable

Option 3: A purchase and recognition of a cash discount taken

Option 4: A return

Option 5: A payment of the account payable and recognition of a cash discount taken

Reference no: EM132568638

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