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; 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 would be sorted to the Balance Sheet-Credit column.
- Accounts receivable is an asset account and would be sorted to the Balance Sheet-Debit column.
- Service fees earned is a revenue account and would be sorted to the Income Statement-Credit column.

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