When posting a column total in the purchases journal, a credit should be posted to

Name: When posting a column total in the purchases journal, a credit should be posted to
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When posting a column total in a purchases journal, it means that we are recording purchases made on credit. Therefore, a credit should be posted to the Accounts Payable account, which represents the amount of money that the company owes to its suppliers for purchases made on credit.

When Posting a Column Total in the Purchases Journal, a Credit