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Home Q & A Board Other Fields Homework Help Business Accounting
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Nakeiat Nakeiat
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5 years ago
Which of the following is true of a purchases journal?
A) For a periodic inventory system, the Merchandise Inventory DR column is replaced with a column titled Cost of Goods Sold DR.
B) Cash purchases are recorded in the purchases journal.
C) For a perpetual inventory system, a column titled Purchases DR is needed.
D) The Other Accounts DR column is used for purchases on account of items other than merchandise inventory and office supplies.
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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5 years ago
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Nakeiat Author
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5 years ago
Above and beyond my expectations for this site
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