Answered: Each time an entry is recorded in the…

Each time an entry is recorded in the purchases journal, the credit would be entered in the A. purchase column B. accounts payable column C. accounts receivable column D. none of the above

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 24MC: Which of the following accounts are used when recording a purchase using a periodic inventory...

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Question

Each time an entry is recorded in the purchases journal, the credit would be entered in the
A. purchase column
B. accounts payable column
C. accounts receivable column
D. none of the above

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