A company purchases inventory on June 10th for $ 500 and pays for it on...
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Accounting
A company purchases inventory on June 10th for $ 500 and pays for it on June 15th in accordance with the terms of the invoice., which were 2/10, net 30. What is the correct entry on June 15th to record the payment? A. A debit to accounts payable for $ 490 and a credit to cash for $ 490 B. A debit to accounts payable for S 500 and a credit to cash for $ 500 C. A debit to accounts payable for S 500, a credit to cash for $490 and a credit to inventory for $ 10 D. A debit to accounts payable for S 490, a debit to inventory for $ 10 and a credit to cash for $ 500
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