Question :
21) Making a $350 payment an account with a current : 1212507
21) Making a $350 payment on an account with a current balance of $800 would include a:
A) debit to accounts receivable and a credit to cash for $350.
B) debit to accounts payable and a credit to cash for $450.
C) debit to accounts payable and a credit to cash for $350.
D) debit to accounts receivable and a credit to capital for $350.
22) Receiving a $350 payment on an account with a current balance of $800 would include a:
A) debit to cash and a credit to accounts payable for $350.
B) debit to cash and a credit to accounts receivable for $350.
C) credit to cash and a credit to accounts receivable for $350.
D) debit to accounts receivable and a credit to cash for $350.
23) Which of the following entries records the billing of service revenue performed on account for $5,400?
A) debit to service revenue and a credit to accounts receivable for $5,400
B) debit to accounts payable and a credit to service revenue for $5,400
C) debit to accounts receivable and a credit to the owner’s capital for $5,400
D) debit to accounts receivable and a credit to service revenue for $5,400
24) Which of the following entries records the billing of service revenue performed for cash for $5,400?
A) debit to service revenue and a credit to cash for $5,400
B) debit to accounts payable and a credit to cash for $5,400
C) debit to cash and a credit to the owner’s capital for $5,400
D) debit to cash and a credit to service revenue for $5,400
25) Performing a service for $500 cash and $700 on account would include a:
A) debit to cash for $1,200.
B) debit to service revenue for $1,200.
C) credit to service revenue for $500.
D) debit to accounts receivable for $700.
26) Performing a service for $500 cash and $700 on account would include a:
A) debit to cash for $700.
B) debit to service revenue for $700.
C) credit to service revenue for $1,200.
D) credit to accounts receivable for $700.
27) A $500 rent bill received for the current period that will be paid in the following period would include a:
A) debit to accounts payable for $500.
B) credit to rent expense for $500.
C) debit to rent expense for $500.
D) credit to cash for $500.
28) The entry to record the purchase of supplies for $200 cash would be:
A)
Supplies
200
Accounts Payable
200
B)
Cash
200
Supplies
200
C)
Cash
200
Supplies Expense
200
D)
Supplies
200
Cash
200
29) The entry to record an owner investment of $400 cash into the business would be:
A)
Withdrawals
400
Capital
400
B)
Cash
400
Accounts Receivable
400
C)
Cash
400
Capital
400
D)
Capital
400
Cash
400
30) The entry to record the return of $300 of supplies purchased on account would be:
A)
Cash
300
Supplies
300
B)
Supplies
300
Accounts Payable
300
C)
Accounts Payable
300
Supplies
300
D)
Accounts Payable
300
Capital
300
