If Bree Lends Gabby a Blender, but Then Gabby Refuses

question 23

True/False

If Bree lends Gabby a blender, but then Gabby refuses to return it, Bree could bring an action in detinue for compensation.

---

Definitions:

Ledger Accounts

Records within a ledger that show all the financial transactions of a specific account, summarized.

Book of Original Entry

It is the initial record where financial transactions are documented in the accounting system.

Accounts Payable

Debts of a business to creditors arising from the acquisition of goods and services on credit.

Purchases on Account

Transactions where goods are bought and the payment is deferred to a future date, often recorded in accounts payable.