What is the definition of Purchases account? | Dictionary.net

PURCHASES ACCOUNT

\pˈɜːt͡ʃɪsɪz ɐkˈa͡ʊnt], \pˈɜːt‍ʃɪsɪz ɐkˈa‍ʊnt], \p_ˈɜː_tʃ_ɪ_s_ɪ_z ɐ_k_ˈaʊ_n_t]\

Definitions of PURCHASES ACCOUNT

1910 - Black's Law Dictionary (2nd edition)

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A ledger into which all purchases are entered. All inventory is recorded in to this ledger. It is used for periodic inventories and enables a company to keep a record of all purchases.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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