Question: Identify a transaction that resulted in either a purchases return or a purchase allowance. Accounts payable is an account which contains the total dollar valueof

Identify a transaction that resulted in either a purchases return or a purchase allowance.

Accounts payable is an account which contains the total dollar valueof __________ by the business for all __________ purchases.

  • a.)
  • monies customers owe; credit
  • b.)
  • monies owed to the suppliers;credit
  • c.)
  • monies owed to the suppliers; cash
  • d.)
  • monies customers owe; cash

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