a few multiple choice questions

Question 20 (1 point) A service was performed for a client with payment due in 30 days. Based on this transaction, which of the following would be a correct entry? O a credit to Accounts Payable a debit to Bank a debit to Accounts Receivable a debit to Capital Previous Page Next Page Page 10 of 10 Question 17 (1 point) A business purchased office supplies for $350 cash, with the remaining $500 to be paid later. This transaction should be recorded as a debit to Supplies, credit to Bank and, credit to Accounts Payable. debit to Bank, credit to Accounts Receivable, and credit to Supplies. debit to Supplies and credit to Accounts Payable. debit to Supplies, credit to Bank, and credit to Accounts Receivable. Question 15 (1 point) A further investment in the business by the owner would be recorded as a debit to Capital. O a debit to Bank. a debit to Loan Payable. Question 13 (1 point) Which of the following is an exceptional situation? a Capital account with a credit balance O a Supplies account with a debit balance O a debtor's account with a debit balance a an Accounts Payable account with a debit balance Question 14 (1 point) Which of the following statements concerning a ledger is false? It only keeps records for a period of one year. O It is a group or file of accounts. A balance sheet can be prepared from information in the ledger. It may be kept on computer disk. Previous Page Next Page