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You receive an invoice from a supplier for inventory purchased. What is the effect of this debt? Select answer from the options below A)The invoice
You receive an invoice from a supplier for inventory purchased. What is the effect of this debt? Select answer from the options below A)The invoice creates an asset because it is the payment obligation for the inventory received last month and it will be current if it is due in less than one year. B)The invoice does not have an accounting effect because the inventory was already received. C)The invoice creates a liability and if due in less than one year, it will be a current liability. D) Cash will be assigned for this payment and as a result, current assets will decrease
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