Wilton Pet Supply Store
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Free InquiryWilton Pet Supply Store purchases dog and cat food from Sunshine Pet Food and receives an invoice for the amount due. The amount must be repaid to Sunshine 30 days from the invoice date. Which best describes the debt incurred by Wilton?
A long-term liability recorded as accounts receivable
A current liability recorded as unearned revenue
A current liability recorded as accounts payable
A long-term liability recorded as accounts payable
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