18 - In the form of payment with acceptance credit, which is the journal entry to be made if the policies sent by the exporter are accepted by the importer? A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 121 02 RECEIVABLES-FC XX 601 01 FOREIGN GOODS SALES XX B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 120 02 FOREIGN BUYER XX 601 01 FOREIGN GOODS SALES XX C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 120 02 FOREIGN BUYER XX 121 02 RECEIVABLES-FC XX D) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 121 02 RECEIVABLES-FC XX 120 02 FOREIGN BUYER XX E) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 02 BANK X DTH XX 121 02 RECEIVABLES-FC XX
18 - In the form of payment with acceptance credit, which is the journal entry to be made if the policies sent by the exporter are accepted by the importer? A) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 121 02 RECEIVABLES-FC XX 601 01 FOREIGN GOODS SALES XX B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 120 02 FOREIGN BUYER XX 601 01 FOREIGN GOODS SALES XX C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 120 02 FOREIGN BUYER XX 121 02 RECEIVABLES-FC XX D) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 121 02 RECEIVABLES-FC XX 120 02 FOREIGN BUYER XX E) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT 102 02 BANK X DTH XX 121 02 RECEIVABLES-FC XX
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
18 - In the form of payment with acceptance credit, which is the
A) CODE AND NAME OF THE
121 02 RECEIVABLES-FC XX
601 01 FOREIGN GOODS SALES XX
B) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT
120 02 FOREIGN BUYER XX
601 01 FOREIGN GOODS SALES XX
C) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT
120 02 FOREIGN BUYER XX
121 02 RECEIVABLES-FC XX
D) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT
121 02 RECEIVABLES-FC XX
120 02 FOREIGN BUYER XX
E) CODE AND NAME OF THE ACCOUNT WILL RECEIVE DEBT
102 02 BANK X DTH XX
121 02 RECEIVABLES-FC XX
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