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Javier Gonzalez
on Nov 14, 2024

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The one characteristic that all entries recorded in a multi-column purchases journal have in common is a

A) credit to the Cash account.
B) debit to the Cash account.
C) debit to the Accounts Payable account.
D) credit to the Accounts Payable account.

Multi-Column Purchases Journal

A specialized accounting journal that records the purchase transactions of a business in multiple columns for different types of purchases.

Accounts Payable Account

An accounting entry that represents a company's obligation to pay off a short-term debt to its creditors or suppliers.

Cash Account

An account that tracks the flow of cash transactions, including receipts and payments, impacting a business's overall cash balance.

  • Become acquainted with the sorts of transactions logged in specific journals.
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Caitlyn McCraryNov 20, 2024
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