Answered: Question 3 What 3 transaction types can…

Question 3 What 3 transaction types can you assign in a rule for money-in transactions? Credit card payment Invoice payment Vendor credit Journal entry Deposit

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 9EB: Identify whether each of the following transactions would be recorded with a debit (Dr) or credit...

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Identify whether each of the following transactions would be recorded with a debit (Dr) or credit (Cr) entry. Table 3.7
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Multiple choice: 1. The receipt of cash on account from a costumer should be recorded as A. a debit to Cash and a credit to Accounts Payable B. a debit to Cash and a credit to Income from Services C. a debit to Cash and a credit to Accounts Receivable D. a debit to Cash and a credit to Capital account 2. A cash payment on a loan affects which of the following accounts? A. Cash and accounts receivable B. Cash and notes payable C. Cash and an expense account D. Cash and a revenue account
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