Which of the Following Is a Column in a Purchases

question 17

Multiple Choice

Which of the following is a column in a purchases journal?

• A)Cost of Goods Sold CR
• B)Accounts Payable CR
• C)Sales Revenue DR
• D)Interest Revenue CR

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Definitions:

Long-Term Liabilities

Company debts that are payable beyond a year from now.

Capital Leases Payable

The liability account that records the present value of future lease payments for assets obtained through capital leases.

Unearned Revenues

Money received by a company for goods or services yet to be delivered or performed.

Working Capital

The difference between a company's current assets and current liabilities, indicating the short-term financial health of the business.