Indicate whether each of the following items is an asset (A), liability (L), or part of owners equity (OE). _______(a) Accounts receivable _______(d) Office supplies _______(b) Salaries payable _______(e) Owners investment _______(c) Equipment _______(f) Notes payable
Chapter 1, Brief Exercises #5
Indicate whether each of the following items is an asset (A), liability (L), or part of owner’s equity (OE).
_______(a) Accounts receivable _______(d) Office supplies
_______(b) Salaries payable _______(e) Owner’s investment
_______(c) Equipment _______(f) Notes payable
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
_______(a) Accounts receivable _______(d) Office supplies
_______(b) Salaries payable _______(e) Owner’s investment
_______(c) Equipment _______(f) Notes payable
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Related Book For 
Accounting Principles
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
ISBN: 978-0470533475