Question 20
Pepper Consulting bought computers with credit from PYO Suppliers and entered the sale into QuickBooks. The transaction journal would show the following entry:
Credit: computers
Credit: PYO Credit Payable
Credit: Sales
Credit: Computers
Correct
Correct! When you enter a transaction that involves buying something on credit, you will debit the asset account (computers) and credit the payable account (PYO Credit Payable).
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