Sales made to Ahmed on credit should be debited to? Select one: a. Cash A/C b. Account Receivable A/C c. Sales A/C d. Account Payable A/C   hen the owner withdraws money from the business for personal use -Which of the following has correct effect on accounting equation? Select one: a. Expense increase and Cash decrease b. Cash increase and Capital increase c. Cash decrease and Capital decrease d. Income increase and Cash decrease

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts
Section: Chapter Questions
Problem 5QY: M. Parish purchased supplies on credit. What is the impact on the accounting equation? a. Increase...
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Sales made to Ahmed on credit should be debited to?
Select one:
a. Cash A/C
b. Account Receivable A/C
c. Sales A/C
d. Account Payable A/C
 
hen the owner withdraws money from the business for personal use -Which of the following has correct effect on accounting equation?
Select one:
a. Expense increase and Cash decrease
b. Cash increase and Capital increase
c. Cash decrease and Capital decrease
d. Income increase and Cash decrease
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