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If a purchase order is placed before year-end (fiscal year ends Dec 31) thereby creating liability, but goods are received after year-end, would you record
If a purchase order is placed before year-end (fiscal year ends Dec 31) thereby creating liability, but goods are received after year-end, would you record the liability (credit entry) in accounts payable before year-end when the purchase order was raised or when the goods are received and paid?
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