When using a purchases journal, Select one: a. the "Other Accounts" total is posted to Accounts...
When using a purchases journal, Select one:
a. the "Other Accounts" total is posted to Accounts Payable at month's end
b. posting to creditor accounts is only done at the end of the month
c. all cash and credit purchases are recorded in the journal
d. there will always be an "Accounts Payable Cr." column
Homework Answers
The journal entry for purchases is
Debit: Purchase Account
Credit: Cash or Accounts Payable
We credit cash in case of cash purchases and Accounts Payable in case of credit purchases. There can't always be an Accounts Payable credit column, cash also can be there.
Posting to Accounts payable is done as and when credit purchases happened.
Option C: All cash and credit purchases are recorded in the journal
Add Answer to:
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