Instructions: Identify the Following

question 66

Essay

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Dr. Benjamin Spock, Baby and Child Care

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Definitions:

Accounts Receivable

Receivables from clients to a corporation for merchandise or services that have been supplied but remain unpaid.

Merchandise Inventory

Merchandise inventory represents the goods a company has in stock that are ready to be sold in the normal course of business.

Accounts Payable

Accounts payable are liabilities representing the amounts that a company owes to creditors for purchases or services rendered that have not yet been paid.

Supplies Expense

The cost associated with using up supplies during an accounting period, which is recorded as an expense.