Which of the following is the journal entry made by a company using perpetual inventory system to record the purchase of inventory?
a. accounts payable inventory
b. inventory accounts payable
c. purchases inventory
d. inventory purchases
e. purchases accounts payable
Answer: b. inventory accounts payable
Business
You might also like to view...
To speed innovation, managers need to form teams in which each member ______.
-looks to cut costs -endeavors to reduce prices -focuses on task interdependence -brings some unique resource to the team
Business
First Finance Company perfected its security interest in Donald's auto on March 1. Second Finance Company perfected its security interest in the same auto on April 1. If both parties have properly filed their finance statements, First Finance Company has a priority interest in the auto
Indicate whether the statement is true or false
Business