The next question is based on Panjim Trading Company’s cash T-account for 2015.Based on

The next question is based on Panjim Trading Company’s cash T-account for 2015.

Based on

Panjim’s 2015 cash T-account, which one of the following statements must be true?

  • During 2015, Panjim’s total merchandise sales were $60,000.
  • During 2015, Panjim’s total merchandise purchases were $44,000.
  • During 2015, Panjim issued $75,000 of debt.
  • Panjim did not record any tax expense for 2015.

I chose D already.

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