Question 7 of 16 1500 points When a company purchases invent

Question 7 (of 16) 15.00 points When a company purchases inventory on account (that is on credi), which type of account is credited to record the tr expense O liability O owner\'s equity Type here to search 8 3 4 5 6 7 8

Solution

when a company purchases inventory on account the entry will be:

Purchases A/c Dr

To Liability A/c Cr

so the account credited is liability account.