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Explain in brief about the purchases account
keeps a record of cost of merchandise purchased for resale during an accounting period.
Assets are recorded as assets-not purchases.
A sweep account is actually a grouping of two or more accounts at a bank. It is useful in managing a steady cash flow among a cash account where scheduled payments are made from an
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The company borrowed 30 000on September 1, 2011. The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate
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The type of accounting concerned with providing information and analyses to managers within the organization is referred to as
Q. External users of accounting information? The external users of accounting information grouped into groups; everyone has different interests in the company and wants answers
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