Accumulated depreciation,accounts receivable,and service fees earned would be sorted to which respective columns in completing a work sheet?
A)Balance Sheet-Credit; Balance Sheet Debit; and Income Statement-Credit.
B)Balance Sheet-Debit; Balance Sheet-Credit; and Income Statement-Credit.
C)Income Statement-Debit; Balance Sheet-Debit; and Income Statement-Credit.
D)Income Statement-Debit; Income Statement-Debit; and Balance Sheet-Credit.
E)Balance Sheet-Credit; Income Statement-Debit; and Income Statement-Credit.

Question

Quizplus · Accepted Answer

Accumulated depreciation is a contra asset account and appears as a credit on the balance sheet. Accounts receivable is an asset and appears as a debit on the balance sheet. Service fees earned is a revenue account and appears as a credit on the income statement.

Accumulated Depreciation,accounts Receivable,and Service Fees Earned Would Be Sorted to Which