Gulfstream Aerospace

  www.gulfstream.com
  www.gulfstream.com

Interview Question

Cost Accountant Interview

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?
Answer

Interview Answer

1 Answer

0

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 Question, Sign In with Facebook or Sign Up