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What is purchases
Purchases is a temporary account used in the periodic inventory system to record the purchases of merchandise for resale.
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Asked 4/10/2012 10:39:47 PM
Updated 9/10/2015 5:57:19 PM
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Purchases is a temporary account used in the periodic inventory system to record the purchases of merchandise for resale.
Added 9/10/2015 5:57:19 PM
This answer has been confirmed as correct and helpful.
Confirmed by selymi [9/11/2015 4:10:49 AM]
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"debased"?
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Debased is reduced in quality or value.
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A trading account is an account similar to a traditional bank account, holding cash and securities, and is administered by an investment dealer.

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