Purchase invoice is first entered in the
...Purchase invoice is first entered in the
Purchases Account
Cash Book
Sales Journal
Purchases Journal
Correct answer is A
Purchases account. The purchases account is a general ledger account in which is recorded the inventory purchases of a business. This account is used to calculate the amount of inventory available for sale in a periodic inventory system.
Purchase journal is used for recording goods bought on credit
The interest on partners' loans is? ...
The accounting system in which only one aspect of transaction is recorded is ...
A low current ratio in business indicates that the business is ...
The document from which entries are transferred to the purchases day book is the ...
Determine the year''s purchase from the following information relating to a firm. Total c...
The assumption that a business has perpetual existence is recognized by ...
A petty cashier received a float of GHC 84. The imprest is ...
Given: ..............Rich Social Club........... Cash.........................N100,000 Loan ........