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Author Question: The purchases method of accounting is permitted for a. materials and supplies, but not for ... (Read 36 times)

karen

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on: Jul 6, 2018
The purchases method of accounting is permitted for
 
  a. materials and supplies, but not for prepaid insurance.
  b. prepaid insurance, but not for materials and supplies.
  c. neither prepaid insurance nor materials and supplies.
  d. both prepaid insurance and materials and supplies.

Question 2

Transactions for purchases returns and allowances affecting Accounts Payable are recorded in the general journal.
 a. True
   b. False
   Indicate whether the statement is true or false


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shailee

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Reply #1 on: Jul 6, 2018
Answer to Question 1

D

Answer to Question 2

True


karen

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Reply 2 on: Jul 6, 2018
YES! Correct, THANKS for helping me on my review

bbburns21

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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