AB Inc. purchased inventory on account from YZ Inc. The amount was $500. AB Inc. uses an

Question:

AB Inc. purchased inventory on account from YZ Inc. The amount was $500. AB Inc. uses an accounting information system with special journals. Which special journal would the company use to record this transaction?
A. Sales journal
B. Purchases journal
C. Cash receipts journal
D. Cash disbursements journal
E. General journal

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Principles Of Accounting Volume 1 Financial Accounting

ISBN: 9781593995942

1st Edition

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

Question Posted: