Entries in the purchase journal are transferred to the .....
Entries in the purchase journal are transferred to the .............
Receivable ledger
Payable ledger
General ledger
Private ledger
Correct answer is B
The purchase journal records all credit purchases. All the entries are then moved to the accounts payable.
Accounts payable are amounts due to vendors or suppliers for goods or services received that have not yet been paid for.
Calls in advance are treated in the balance sheet as______ ...
Which of the following is not a balance sheet item? ...
Capital receipt is collected ...
Which of the following is a real account item? ...
Patent and Trade mark are classified under ...
Given: Assets and Liabilities of a Local Government Bank balance #6,484,000 Cash # 900,000 Gen...
The accounting concept which distinguishes an enterprise from its owners is ...
Which of the following is a capital reserve? ...
The limitations of the receipts and payments account arise mainly because of the reliance on? ...