What entry is required in the company's accounts to record outstanding checks? Oa. debit Accounts Receivable; credit Cash Ob. debit Cash; credit Accounts Receivable Oc. debit Cash; credit Accounts Payable Od. no entry required

What entry is required in the company's accounts to record outstanding checks? Oa. debit Accounts Receivable; credit Cash Ob. debit Cash; credit Accounts Receivable Oc. debit Cash; credit Accounts Payable Od. no entry required

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 19MC: The sum of all the accounts in the accounts receivable subsidiary ledger should ________. A. equal...

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

What entry is required in the company's accounts to record outstanding checks?
Oa. debit Accounts Receivable; credit Cash
Ob. debit Cash; credit Accounts Receivable
Oc. debit Cash; credit Accounts Payable
Od. no entry required

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