AB Inc. purchased inventory on account from YZ Inc. The amount was $500. AB Inc. uses an
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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
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B Purchases journal The purchases journal is a special journal used to record all credit purchases o...View the full answer
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Related Book For 
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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