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andriy [413]
3 years ago
6

First Rentals purchased office supplies on credit. The general journal entry made by First Rentals will include a:

Business
1 answer:
Assoli18 [71]3 years ago
5 0

The general journal entry made by First Rentals on purchase of office supplies on credit will include a Credit to Accounts Payable.

<h3>How are office supplies on credit recorded?</h3>

Office supplies on credit means office supplies bought on credit by the firm.

In conclusion, the general journal entry made by First Rentals on purchase of office supplies on credit will include a Credit to Accounts Payable.

Read more about Accounts Payable

<em>brainly.com/question/1347024</em>

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To value a financial asset, all future cash flows must be taken into account, therefore their value will be the sum of the present values of each of the future cash flows.

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Data provided

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