Union Co has the following transactions: i

Subject:AccountingPrice:9.82 Bought3

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Union Co has the following transactions: i. Payment of [290 to a regular supplier for a cash purchase ii. Payment of $550 from a new customer for a credit sale in the previous month What are the correct ledger entries to record these transactions? Dr Receivables $550 Cr Cash $260 Cr Purchases L290 O Dr Cash $550 Dr Purchases $290 Cr Receivables $550 Cr Cash $290 O Dr Sales $550 Dr Cash $290 Cr Cash $550 Cr Purchases $290 O Dr Cash $260 Dr Purchases $290 Cr Receivables $550