In a Purchases Journal,the Total of the ________ Column Is

question 30

Multiple Choice

In a purchases journal,the total of the ________ column is not posted to the general ledger.

• A) Merchandise Inventory DR
• B) Other Accounts DR, Amount
• C) Accounts Payable CR
• D) Office Supplies DR

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Definitions:

Long-Term Investments

Long-Term Investments are assets that a company intends to hold for more than one fiscal year, often including stocks, bonds, or real estate.

Property, Plant, and Equipment

Long-term assets used in the production of goods and services, such as buildings, machinery, and vehicles.

Current Liability

A company's debts or obligations that are due to be paid to creditors within one year.

Coming Year

The subsequent year or the next twelve months.