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Purchase invoice is first entered in the

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Accounts - Principles of Accounts WAEC 2015

Purchase invoice is first entered in the

  • Purchases Account checkmark
  • Cash Book
  • Sales Journal
  • Purchases Journal

The correct answer is: A

Explanation

Purchases account. The purchases account is a general ledger account in which is recorded the inventory purchases of a business. This account is used to calculate the amount of inventory available for sale in a periodic inventory system.

Purchase journal is used for recording goods bought on credit

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