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A company purchases $23,000 of supplies inventory in the current month and promises to pay for them next month. How should the company record a
A company purchases $23,000 of supplies inventory in the current month and promises to pay for them next month. How should the company record a liability for the supplies inventory? Multiple Choice This liability is not a recognized liability until the payment is due. $23,000 should be posted as a credit to accounts payable. $23,000 should be posted as a debit to accounts payable. U O $23,000 should be posted as a debit to note payable
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