Asked by
Mary Jane Leones
on Dec 17, 2024
Verified
If Accounts Payable has been credited, it is most likely that:
A) a collection from a customer was made.
B) a service was provided on account.
C) the company made a purchase and will pay for the purchase next month.
D) None of these is possible.
Accounts Payable
Money owed by a business to its suppliers or creditors for goods and services purchased on credit.
- Recognize the treatment of accounts payable and receivable in various transactions.
Verified Answer
QK
Learning Objectives
- Recognize the treatment of accounts payable and receivable in various transactions.
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