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QUESTION

Goods were purchased on account last month. What is the correct entry to record the payment made this month for the purchase previously made?

Goods were purchased on account last month. What is the correct entry to record the payment made this month for the purchase previously made?

Select one:

a. Debit inventory and credit accounts payable

b. Debit accounts payable and credit cash

c. Debit inventory and credit cash

d. Debit expenses and credit cash

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