BUISENESS MANAGEMENT
MERCHANDISING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a credit to inventory and a debit to goods
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a credit to accounts receivable and a credit to sales
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a credit to accounts payable and a debit to purchases
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a debit to accounts receivable
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Detailed explanation-1: -Cash Payment Journal and Discounts Received So purchase from a supplier will be recorded in the accounts payable ledger by crediting Cash and Discounts allowed accounts and debiting the Accounts payable.
Detailed explanation-2: -In a perpetual system, you record purchases in the raw materials inventory account or the merchandise account.
Detailed explanation-3: -The biggest advantage of using MAC is that it’s a straightforward way to track inventory expenses compared to other inventory costing methods. You can store inventory regardless of which batch it belongs to.
Detailed explanation-4: -retail merchandising business. a merchandising business that sells to those who use or consume the goods. wholesale merchandising business. A business that buys and resells merchandise primarily to other merchandising businesses. Corporation.