Multiple Choice
On 2 January 2014 Fife Corp buys goods from O'Brien and agrees to pay for them within 60 days. On the balance sheet for Fife Corp at 2 January 2014 the amount owing to O'Brien would be reported as:
A) an advance payment by a customer.
B) accounts receivable.
C) accounts payable.
D) an expense.
Correct Answer:
Verified
Correct Answer:
Verified
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