question archive A company begins operations in April, uses the perpetual method, and records merchandise purchases at net
A company begins operations in April, uses the perpetual method, and records merchandise purchases at net
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A company begins operations in April, uses the perpetual method, and records merchandise purchases at net. The company makes two purchases on account. Terms are 1/15, n/45. On April 4, the company purchases merchandise for $3,000, which it pays for on April 16. On April 11, it makes a $9,000 purchase that it pays for on April 29, but there are no sales in April. On April 30, what will be the balance in the company's Inventory ledger account?
a. $11,880
b. $11,910
c. $11,970
d. $12,000
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