Sally had $1000 in the bank when she made a payment of $1500 to purchase goods for resale. The bank authorised the payment. In Sally’s books of account, how was this transaction entered?
- Ainventory debited 1500; bank credited 1500
- Binventory debited 1500; bank credited 1000; bank overdraft credited 500
- Cpurchases debited 1500; bank credited 1500
- Dpurchases debited 1500; bank credited 1000; bank overdraft credited 500