16. At December 1, 2017, Stanford Companys accounts receivablebalance was $2,500. During December, Stanford had credit revenuesof
Question:
16. At December 1, 2017, Stanford Company’s accounts receivablebalance was $2,500. During December, Stanford had credit revenuesof $7,000 and collected accounts receivable of $3,500. At December31, 2017, the accounts receivable balance is
a. $6,000 debit.
b. $6,600 debit.
c. $6,000 credit.
d. $6,600 credit.
18. Which of the following journal entries is recorded correctlyand in the standard format?
a. Salaries and Wages Expense 500
Cash 1,500
Advertising Expense . 1,000
b. Salaries and Wages Expense 500
Advertising Expense 1,000
Cash . 1,500
c. Salaries and Wages Expense . 500
Advertising Expense . 1,000
Cash 1,500
d. Cash 1,500
Salaries and Wages Expense 500
Advertising Expense 1,000
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso