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Accounts Payable MCQs

When clients have customers who are also vendors, what is the best way to offset Accounts Payable against Accounts Receivable?

Use the QuickBooks trade-off feature

Create a bank account through which you can clear the Payables and the Receivables

Use a single journal entry

Use multiple journal entries

Answer

Correct Answer: Create a bank account through which you can clear the Payables and the Receivables

Explanation:

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