Answered: Which of the following accounts does…

Which of the following accounts does not belong in the purchases and disbursement cycle? A. Prepayments B. Accounts Payable C. Sales returns and allowances D. Fixed Assets

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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Which of the following accounts does not belong in the purchases and disbursement cycle?

A. Prepayments

B. Accounts Payable

C. Sales returns and allowances

D. Fixed Assets

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