Saturday, October 10, 2020

Using a perpetual inventory system, the purchase of inventory on account is recorded with a:

Using a perpetual inventory system, the purchase of inventory on account is recorded with a:



A) Debit to Inventory.

B) Debit to Cost of Goods Sold.

C) Debit to Accounts Payable.

D) Credit to Sales Revenue.


Answer: A

at
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Assuming a current ratio of 1.2 and an acid-test ratio of 0.80, how will the purchase of inventory with cash affect each ratio?

Assuming a current ratio of 1.2 and an acid-test ratio of 0.80, how will the purchase of inventory with cash affect each ratio? A) Increase ...