When goods are purchased on credit terms rather than for cash , the appropriate entry is: (a)
Question:
When goods are purchased on credit terms rather than for cash , the appropriate entry is:
(a) none;
(b) debit stock, credit cash ;
(c) debit cost of goods sold , credit cash ;
(d) debit stock, credit trade creditors.
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Related Book For
Financial Accounting And Reporting An Introduction
ISBN: 978-0333346402
1985 Edition
Authors: R. Limmack
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