Sales revenue received in cash is entered by
A) debiting Cash and crediting Sales Revenue.
B) debiting Sales Revenue and crediting Cash.
C) debiting Cash and crediting Accounts Payable.
D) debiting Accounts Payable and crediting Cash.
Correct Answer:
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Q43: For EVERY transaction,the accountant enters the
A) year,month,and
Q44: The transaction to record payment for delivery
Q45: The month in the journal is recorded
A)
Q46: The simplest form of journal is one
Q47: A chart of accounts does NOT include
A)
Q49: The steps in the journalizing process include
Q50: Journalizing does NOT include
A) debiting account(s)that are
Q51: Purchase invoices received from suppliers provide information
Q52: A chronological record of financial transactions expressed
Q53: Because the first formal accounting record of
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