In a Typical Purchases Journal,you Would Expect to See the Following

question 102

Multiple Choice

In a typical purchases journal,you would expect to see the following columns:

• A)Accounts payable dr.
• B)Purchase discounts cr.
• C)Accounts receivable cr.
• D)Inventory dr.(if perpetual method used).
• E)Cost of Goods Sold dr.(if perpetual method used).

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Definitions:

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