Assume ABC merchandize company purchase merchandize and 680000 on April 2016. A) Record the journal entry. B) Assume ABC purchase on account ( credit) and record the journal entry. C) Assume that the company purchase in terms of n/30 and record the journal entry. D) Assume the term invoices is 2/30,n/30 record the journal entry.

Question

Assume ABC merchandize company purchase merchandize and 680000 on April 2016.                                 A) Record the journal entry.                                                B) Assume ABC purchase on account ( credit) and record the journal entry.                                                   C) Assume that the company purchase in terms of n/30 and record the journal entry.                                 D) Assume the term invoices is 2/30,n/30 record the journal entry.