Alex bought $50,000 worth of computers for his firm and he will pay the vendor for these

Question:

Alex bought $50,000 worth of computers for his firm and he will pay the vendor for these computers on the fifteenth of next month. These items would be carried on the ____________ and listed as _________________.
Balance sheet, sheet, notes payable
Income statement, statement, notes payable
None of the above.
2. An increase in from last year's to this year's indicates that the business experienced a cash outflow.
True
False
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...