question archive The liability created by a business when it purchases coffee beans and coffee cups on credit from suppliers, is called which of the following? a
The liability created by a business when it purchases coffee beans and coffee cups on credit from suppliers, is called which of the following? a
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The liability created by a business when it purchases coffee beans and coffee cups on credit from suppliers, is called which of the following?
a. accounts payable
b. account receivable
c. revenue
d. expense
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Answer:
a. Accounts Payable
The following journal entry is passed :
Inventory -Coffee Cups and beans
Accounts Payable
