You should not record ____ on an income and expense statement covering January 1 to June 30.
A)an $800 refrigerator bought on credit June 2 for which payment is not due until July
B)a paid March telephone bill
C)health insurance premiums deducted from monthly pay checks
D)checking account service charges
E)groceries bought and paid for in June

Question

Quizplus · Accepted Answer

The income and expense statement covers the period from January 1 to June 30, and the refrigerator was purchased in June for which payment is not due until July, so it is not relevant to this particular statement.

You Should Not Record ____ on an Income and Expense