23) One asset would be debited and another credited if: A) the business paid a c

Question

23) One asset would be debited and another credited if:
A) the business paid a creditor.
B) the business provided services to a cash customer
C) the business bought supplies paying cash.
D) the business provided services to a credit customer

24) Paid the rent for the next six months.
A) An asset would be debited and an expense credited.
B) An asset would be debited and a revenue credited.
C) Capital would be debited and a revenue credited.
D) An asset would be debited and an asset credited.

25) The journal described as the simplest form is a (an):
A) accounting journal.
B) general journal.
C) special journal.
D) interim journal.

26) The process of initially recording business transactions in a journal is:
A) posting.
B) sliding.
C) journalizing.
D) transposing.

27) In the month of June, Davis Computers paid three months

Explanation / Answer

23) A 24) C 25) D 26) A 27) B 28) B

Related Questions

Navigate

• Browse (All)
• Browse 2
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.