Multiple Choice
Which of the following transactions that impact current liabilities has a corresponding entry on the income statement?
A) Purchase inventory on credit from Company XYZ on January 1
B) Payment to XYZ on February 1 for a January 1 purchase
C) Interest accrued on a note payable
D) Payment to employees in March for wages earned in February
Correct Answer:
Verified
Correct Answer:
Verified
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