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April 26, 2026, 09:43:20 pm
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Author Topic: Credi Purchases  (Read 820 times)  Share 

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A_hma_d

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Credi Purchases
« on: July 11, 2012, 07:13:58 pm »
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Explain why a credit purchase of a non-current asset must be recorded in the General Journal???
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sam.utute

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Re: Credi Purchases
« Reply #1 on: July 11, 2012, 07:23:05 pm »
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Quote from: A_hma_d on July 11, 2012, 07:13:58 pm
Explain why a credit purchase of a non-current asset must be recorded in the General Journal???
The Purchases Journal is only used to record credit purchases of stock.
As the credit purchase of a NCA is an infrequent non-cash transaction, it must be recorded in the General Journal.
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A_hma_d

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Re: Credi Purchases
« Reply #2 on: July 11, 2012, 07:28:23 pm »
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Thanks :)
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