Which of the following accounts does not belong in the purchases and disbursement cycle? A. Prepayments B. Accounts Payable C. Sales returns and allowances D. Fixed Assets
Which of the following accounts does not belong in the purchases and disbursement cycle? A. Prepayments B. Accounts Payable C. Sales returns and allowances D. Fixed Assets
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 1MC: Which of the following is an example of a contra revenue account? A. sales B. merchandise inventory...
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Which of the following accounts does not belong in the purchases and disbursement cycle?
A. Prepayments
B. Accounts Payable
C. Sales returns and allowances
D. Fixed Assets
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