The proper journal entry to record the receipt of inventory purchased on account in a perpetual inventory system would be:

A) Jan 1 Inventory 540.00Accounts Payable 540.00
B) Jan 1 Office Supplies 540.00Accounts Payable 540.00
C) Jan 1 Purchases 540.00Accounts Payable 540.00
D) Jan 1 Purchases 540.00Accounts Receivable 540.00


A

Business

You might also like to view...

The ________ is the value that occurs most frequently

A) mean B) median C) mode D) range

Business

In order to be most effective, an event takeaway at a pharmaceutical trade show should be a ________

A) fun product that children will enjoy B) costly item that attracts non-prospects C) functional reminder of an organization D) brochure with product and contact details E) disposable or edible item with a firm's logo on it

Business

A major advantage of a retail information system is _____

a. the continuous nature of data collection and analysis b. its low cost c. the use of competitor data d. the use of verified data from government sources

Business

Why might an organization be opposed to developing and implementing a thorough risk management process?

Fill in the blank(s) with the appropriate word(s).

Business