Interview Question


There is a vendor who receives inventory and a bill of sale

  every month but only pays off the bill once a year, how is this transaction recorded?

Interview Answer

1 Answer


every month you would debit inventory and credit accounts payable. then at the end of the year, debit accounts payable and credit cash

Roger Tran on Feb 14, 2012

Add Answers or Comments

To comment on this, Sign In or Sign Up.