Question

your company purchased inventory from a vendor on account. what are the names of the three documents matched before recording the purchase in the accounting records

Answer 1

The three documents matched before recording the purchase in the accounting records are the Purchase Order, Receiving Report, and Invoice.

Step-by-step explanation:

The names of the three documents matched before recording the purchase in the accounting records are:

1. Purchase Order: This document is prepared by the buyer and sent to the vendor to specify the details of the purchase, such as the quantities, prices, and delivery terms.
2. Receiving Report: This document is prepared by the buyer upon receipt of the inventory from the vendor. It verifies the quantity and condition of the goods received.
3. Invoice: This document is prepared by the vendor and sent to the buyer to request payment for the purchased inventory. It includes the details of the items purchased, prices, and payment terms.