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motikmotik
3 years ago
13

Spot Co. purchases office supplies from Sally Supplies, Inc.. Spot does not pay cash for the purchase, and now owes the amount t

o Sally. This transaction would typically be recorded in which account in Spot's books:
A. Accounts Receivable
B. Unearned fees
C. Accounts payable
D. Wages payable
Business
1 answer:
vova2212 [387]3 years ago
4 0

Answer:

C. Account payable

Explanation:

Account payable is the amount owned by a firm to its suppliers which is shown as a liability on a firms balance sheet. Accounts payable is the money a firm owes its vendors. It is a firms obligation to pay short-term debt to its suppliers at a given period of time.

Account payable is the total amount owed by a firm to its suppliers for supplying a quantity of goods and services.

Sally supplies inc. supplied Spot Co. office supplies but Spot Co has not paid cash for the purchase and as a result owes Sally supplies inc.

The transaction would be recorded in account payable account of Spot inc. book.

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3 years ago
Where a producer chooses the intensity level of its market coverage, which level is chosen to utilize the “shotgun” approach?
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---------------------

Hope this helps, now you know the answer and how to do it. HAVE A BLESSED AND WONDERFUL DAY! As well as a great rest of Black History Month! :-)  

- Cutiepatutie ☺❀❤

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