what is the entry for collection of receivable * O debit cash, credit accounts payable O debit cash, credit accounts receivable O debit accounts receivable, credit cash O debit accounts payable, credit cash

Q: How would I figure out the adjusted trial balance sheet?  cash accounts receivable  equipment  etc

A: Explanation: The Ending Balances of all T-Accounts Transfer to Adjusted Trial Balance.

Q: Is Accounts Payable a credit, a debit, or both?

A: Current liability: It implies to the debt obligation that is to be repaid within a span of one year.…

Q: What is the normal balance of cash? Group of answer choices This is an ambiguous question debit…

A: Cash is a legal tender that can be used easily to buy something. It is the most liquid asset in the…

Q: How might clustering be used to describe customers who owe money (accounts receivable)

A: Accounts Receivable account shows the list of customers of the business who have amount due to the…

Q: Which one of the four methods of payments creates an accounts receivable?   Select one:   a.…

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

Q: A cash paid for a borrowing made earlier affects which of the following accounts? a. Cash and Notes…

A: Solution- Once you pay the full amount due, your account is paid in full. You have effectively…

Q: The purchases journal is used to record O Credit sales O Cash sales O Cash receipts O Cash purchases…

A: Subsidiary books are maintained in order to support the primary book of entries. Subsidiary books…

Q: A journal O debit to Accounts Payable. O credit to Accounts Payable. O debit to Accounts Receivable.…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: where would borrowed cash go on transaction worksheet

A: The borrowed cash is the amount of cash received by the entity through many ways - like from banks,…

Q: Debit is the normal balance of O loans payable O capital O prepaid rent O unearned revenue The…

A: Solution: Debit is the normal balance of "prepaid rent". Hence third option is correct.

Q: Identify the correct journal entry when cash is received from customers - periodic inventory system…

A:

Q: What is the normal balance for each of the following accounts? (i) Accounts Receivable. (ii) Cash.…

A: (i) Normal balance of account receivables is debit because when we are to receive somthing from some…

Q: The Debit balance of cash book indicates? Select one: a. Net income b. Cash in hand c. Difference…

A: The cash balance increase is treated as debited and cash balance decrease is treated as credited in…

Q: The cash receipts journal is used to record all transactions that include a debit to the Cash…

A: A cash account is a trading account that mandates the account holder to pay for all securities…

Q: What is the impact on the accounting equation when an accounts receivable is collected

A: The accounting equation refers to the equation of the balance sheet. It is based on the method of…

Q: what is the entry for purchase of supplies on account? * O debit supplies, credit cash O debit…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: Rent A/c Debit; Cash A/c Credit. For this Journal, which item will appear on the Credit side of Cash…

A: Ledgers are used for classifying the recorded general journal entries into separate account like…

Q: 1. What is the formular for Accounts Recieveables?  2. What is the formular for Accounts Payable?

A: Accounts Receivable - Accounts Receivables are the amount that is not paid by the customers who had…

Q: Complete the table below.   Item Classification of item  (A, L, OE, R, E) Income Statement (IS)…

A: L= Liabilities A = Assets OE = Owner's equity R = Revenue E = Expense IS = income statement BS =…

Q: Which one of the following is considered as cash? a. Post Dated Cheques. b. Certified Cheques. c.…

A: Cash and cash equivalent is the part of current assets which are reported on the balance sheet of a…

Q: hello may i ask how much is the net adjustment to the cash account? including debit or credit thank…

A: Assets have debit balance and Liabilities have credit balance. Cash account is current asset with a…

Q: he purchase of supplies with cash would be recorded as a. Debit Cash; Credit Supplies Expense. b.…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: What’s the difference between accounts payable and receivable?

A: If you use the accrual accounting system, you will have to deal with accounts receivable and…

Q: What is the:  Accounts Receivable   =                                     =     Accounts…

A: Accounts Receivable Accounts receivable which is treated as one of the main source of liquidity…

Q: A "receipt on account" results in a credit to: An A/P account Bank An A/R account Capital

A: Receipt on account means, cash received from previously made credit sales.

Q: What is the balance in cash after these transactions are journalized and posted?

A: Only cash transactions are to be considered.  We will start with the opening balance of cash. We…

Q: What is the journal entry for recording credit sales? a. Cash Dr. and Sales Cr b. Sales Dr. and…

A: Journal entry for Recording credit sales: Accounts Receivable [Debit]          Sales [ Credit]

Q: When cash is debited, a typical credit is to O Accounts receivable Withdrawals O Expenses O Accounts…

A: "We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: rrange the following current assets according to their liquidity, starting from the most liquid one:…

A: The current assets are those assets that are convertible into cash within the time period of one…

Q: What entry is required in the company's accounts to record outstanding checks? Oa. debit Accounts…

A: Outstanding check: When company issue the check to the vendor/creditors but they do not present the…

Q: 1. Calculate the Accounts Receivable Collection Period & Accounts Payable Payment Period based on…

A: Accounts receivable collection period = 365 x Average Accounts receivable…

Q: Cash has a normal debit balance.  What does this mean in accounting?  Be specific and provide as…

A: Current assets are those assets that can be converted into cash within a year whereas noncurrent…

Q: In which of the following transaction, bank account will be debited? O a. Purchased goods on cash O…

A: SOLUTION- Cash Deposit In To Bank is Simply Transfer the Cash From Location to Another , The Asset…

Q: ch to recording financial transactions, cash paid to cre

A: False

Q: Where are cash equivalents disclosed in the financial statements?The _____________ account on the…

A: The Cash account on the balance sheet. Option B. is correct answer.

Q: Identify the correct journal entry when cash is received from customers - periodic inventory system…

A: Customers are accounts receivables which are decreased and cash is increased.

Q: Answer the following question: It is an event where money moves into or out of an account. a.…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: A credit balance on accruals account indicates?

A:

Q: Which of the following account is debited when account payable is converted into note payable?…

A: Liabilities have a credit balance, So when liabilities converted then they should be debited.

Q: Please calculate the amount for cash and Accounts payable

A: Cash = Total Assets - (Accounts Receivable + Buildings + Equipment + Fixtures + Inventory + Land +…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.