Which account is affected by recording the buying of goods on credit?
A)Cash
B)Retained Earnings
C)Common Stock
D)Accounts Payable

Name: Which account is affected by recording the buying of goods on credit? A)Cash B)Retained Earnings C)Common Stock D)Accounts Payable
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Question

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A businesses typically buy goods or services from others on credit,by promising to pay within 30 days of the purchase.Accounts Payable represents the amount owed to suppliers for prior credit purchases (on account).

Which Account Is Affected by Recording the Buying of Goods