Although this transaction involves purchase onfrom account, it does not qualify to be recordedWoodcrafts Shop costing P5,000 purchase journal since the item purchased is nota merchandise; therefore, it is recorded in general9. Acquiredfurnitureand issued a promissory note.journal.15Although this transaction involvesdoes not qualify to be recorded --it10. You sold old store cabinet ofKikay Kit Store to a friendamountingpromised to pay the next month.is not a merchandise;issince the itemP2,000.00,shetherefore,itrecorded inAotivit y 12 TEue or Colee

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Description: Although this transaction involves purchase onfrom account, it does not qualify to be recordedWoodcrafts Shop costing P5,000 purchase journal since the item purchased is nota merchandise; therefore, it is recorded in general9. Acquiredfurnitureand i

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Although this transaction involves purchase on from account, it does not qualify to be recorded furniture 9. Acquired Woodcrafts Shop costing P5,000 purchase journal since the item purchased is not and issued a promissory note. a merchandise; therefore, it is recorded in general journal. 15 Although this transaction involves does not qualify to be recorded -- it 10. You sold old store cabinet of Kikay Kit Store to a friend amounting is not a merchandise; is since the item P2,000.00, she therefore, in it recorded promised to pay the next month.

Although this transaction involves purchase on from account, it does not qualify to be recorded furniture 9. Acquired Woodcrafts Shop costing P5,000 purchase journal since the item purchased is not and issued a promissory note. a merchandise; therefore, it is recorded in general journal. 15 Although this transaction involves does not qualify to be recorded -- it 10. You sold old store cabinet of Kikay Kit Store to a friend amounting is not a merchandise; is since the item P2,000.00, she therefore, in it recorded promised to pay the next month.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 20MC: AB Inc. purchased inventory on account from YZ Inc. The amount was $500. AB Inc. uses an accounting...

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