what is the gournal jeneral entry for: 1. solds goods for cash. 2. paid creditors.
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- Which of these transactions requires a debit entry to Cash? A. paid balance due to suppliers B. sold merchandise on account C. collected balance due from customers D. purchased supplies for cashA "sale on account" results in a debit to: Accounts Receivable O Cash O Capital Accounts PayableWhich of the following transactions would be recorded if using the accrual basis ofaccounting but not if using the cash basis of accounting?a. Borrowing moneyb. Paying off loansc. Purchasing inventory on accountd. Collecting customer payments
- what is the gournal jeneral entry for: 1. purchase goods for cash. 2. paid wagesWhat is an account receivable? O a. Sales O b. Asset Oc. Income O d. CreditorsThe following source document is used to support the transactions related to returns outwards to creditors/accounts payables: O a. Purchases invoices O b. Debit note O c. Credit note O d. Payable note
- Which of the following entries records the payment of an account payable? a.debit Cash; credit Accounts Payable b.debit Cash; credit Supplies Expense c.debit Accounts Receivable; credit Cash d.debit Accounts Payable; credit CashWhich function of money allows individuals to make payment now in return for goods and services? A. standard of deferred payment B. unit of account C. store of value D. medium of exchangeWhich of the following accounts is not a permanent account? Select one: a. Utilities Expense b. Cash in Bank c. Accounts Payable d. Retained Earnings
- Which of the following is included under the financing activities in the statement of cash flows? O Payment of salaries to employees O Proceeds from sale of equipment Purchase of new office computers O Withdrawal of cash made by the ownerb) Explain the difference between Accrual and Cash Accounting. Give anexample to assist in your explanation.The Debit balance of cash book indicates? Select one: a. Net income b. Cash in hand c. Difference between debtors and creditors d. None Crop Scan