If Vouchers Payable has been credited, it is most likely that:
A) the business took out a loan.
B) the business made a payment to a vendor.
C) a purchase was made on account.
D) a cash receipt from a customer.

Question

Quizplus · Accepted Answer

When Vouchers Payable is credited, it typically indicates that a purchase was made on account, meaning the business has received goods or services from a vendor and has agreed to pay for them at a later date. This increases the Vouchers Payable liability account.

If Vouchers Payable Has Been Credited, It Is Most Likely