Question: Describe the correct answer and defend why it was correct. For instance, the transaction would have increased accounts payable because it increased something the company

Describe the correct answer and defend why it was correct. For instance, the transaction would have increased accounts payable because it increased something the company owed. The accounts payable account is credited because liabilities are increased with a credit entry. For calculation problems enter the calculation leading up to the solution. For more essay type problems refer back to the sources as to why it is correct.

Describe the correct answer and defend why it was correct. For instance,

Question 28 O out of 2 points August 10th a company delivered products sold to Company XYZ for $35,000 with terms of 1/10, net 30. What amount did the company record as revenue on August X 19th when XZY paid for the product? Selected Answer: A. $34,650. Answers: A. $34,650. B. $35,000. C. $0. D. $31,500

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