The Purchases Journal of a Business That Uses the Periodic

question 97

Multiple Choice

The purchases journal of a business that uses the periodic inventory system will include a column titled ________.

• A) Cost of Goods Sold DR
• B) Purchases DR
• C) Accounts Payable DR
• D) Merchandise Inventory DR

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Definitions:

Natural Resource

Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.