Gulfstream Interview Question: There is a vendor who receive... | Glassdoor

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?

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

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