Question

For a retail business, a delivery of inventory, from a vendor (with whom there is an established credit relationship) would be initially recorded in which type of accounting record as part of which transaction cycle

Answer 1

Answer:

purchases journal; expenditure cycle

Explanation:

For most retail businesses the first place transactions are recorded is the purchase or sales journal. This contains a simple lost of items purchased or sold. The information is later transfered to the general ledger.

On this scenario there was a delivery of inventory, from a vendor with whom there is an established credit relationship.

Once purchase is made on credit it is an expenditure transaction and will be recorded as such