The journal entries for the purchase of stock on credit are to debit?
Question
The journal entries for the purchase of stock on credit are to debit?Options
A)
stock account and credit cash account
B)
stock account and credit liability account
C)
ourchase account and credit liability account
D)
suspense account and credit cash account
The correct answer is C.
More Past Questions:
Discussion
Other Subjects
- English Language
- Biology
- Government
- Mathematics
- Physics
- Economics
- Chemistry
- Christian Religious Knowledge
- Commerce
- Geography
- Literature In English
- Agricultural Science
- General Paper
- History
- Islamic Religious Knowledge
- Further Mathematics
- Current Affairs
- Computer Studies
- Civic Education
- Math
- Reading
- Writing and Language
- Home Economics
- French
- Igbo
- Hausa
- Yoruba
- Fine Arts
- Basic Accounting