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The entry to record a purchase of merchandise on credit includes a) a debit to Accounts Payable and a credit to Purchases. b) a credit to Purchases and a credit to Accounts Payable. c) a debit to Purchases and a credit to Accounts Payable. d) a debit to Purchases and a credit to Accounts Receivable.
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Asked 11/10/2013 9:17:26 AM
Updated 11/10/2013 9:43:23 AM
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Flagged by Jay901
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User: The entry to record a purchase of merchandise on credit includes a) a debit to Accounts Payable and a credit to Purchases. b) a credit to Purchases and a credit to Accounts Payable. c) a debit to Purchases and a credit to Accounts Payable. d) a debit to Purchases and a credit to Accounts Receivable.

Question
Asked 11/10/2013 9:17:26 AM
Updated 11/10/2013 9:43:23 AM
1 Answer/Comment
Flagged by Jay901
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The entry to record a purchase of merchandise on credit includes c) a debit to Purchases and a credit to Accounts Payable.
Added 11/10/2013 9:43:23 AM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [6/17/2014 10:12:36 PM]
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The employer records the amount of federal income tax withheld from employees as a. Employee Federal Income Tax Payable. b. Social Security Tax Expense. c. Social Security Tax Payable. d. Income Tax Expense.
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Expert Answered
Updated 174 days ago|3/31/2018 7:13:01 AM
1 Answer/Comment
The employer records the amount of federal income tax withheld from employees as Employee Federal Income Tax Payable.

Added 175 days ago|3/31/2018 2:57:13 AM
This answer has been confirmed as correct and helpful.
Confirmed by Masamune [3/31/2018 7:12:59 AM]
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