7. Received Php20,000 for the sale of a lot a. Debit cash, Credit Commission Income b. Debit Cash, Credit Accounts Receivable c. Debit Cash, Credit land d. none of the above
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7. Received Php20,000 for the sale of a lot
a. Debit cash, Credit Commission Income
b. Debit Cash, Credit
c. Debit Cash, Credit land
d. none of the above
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- 11. Paid Php20,000 for business automobile.a. Debit Cash, Credit Accounts Payableb. Debit Transportation Expense, Credit Cashc. Debit Automobile, Credit Cashd. none of the above(To record cash purchase of premiums) Cash Sales Revenue (To record cash sales) Cash Premium Expense Inventory of Premiums (To record redemption of codes) (To adjust unearned revenue) Save for Later 3840000 000 0 Attempts: 1 of 3 used Submit Answer E47. Which of the following item do not affect the Cash account? a. Purchases of P10,000 b. Sales of P5,000 c. Received cash for service rendered P2,000 d. Credit sales of P22,000
- Given the following information, compute the amount of cash finally remitted by the customer. Oct. 22—Sale on credit, terms of 2/10, n/30—$3,000 Oct. 27—Allowance granted due to some items being damaged—$300 Oct. 31—Payment in full received from customer—$? $2,646. $3,000. $2,640. $2,814.1. What amount was received from the note receivable discounting? a. 4,017,000b. 4,120,000c. 4,103,000d. 3,965,500 2. What amount should be reported as loss on note receivable discounting? a. 40,000b. 23,000c. 17,000d. 20,0001.
- c. The receipt of cash on account of $4,500 was recorded as a debit to Cash for $9,000 and a credit to Accounts Receivable for $4,500 The payment of $2,050 on account was debited to Accounts Payable for for $230 and credited to Cash for $2,050. Indicate whether the debit or credit total is higher and by how much.Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet. a. Sold merchandise on account for $64,000 to a customer. Accounts receivable b. Received a promissory note of $57,000 for services performed. Notes receivable Other receivables C. Advanced $10,000 to an employee.a. Accounts Payable. 1,830 Cash. 1,830 b. Accounts Receivable.. 3,080 Cash. 3,080 C. Accounts Receivable. 10,380 Accounts Payable. 10,380 d. Cash 7,380 Accounts Payable. 1,830 Accounts Receivable.. 9,210 Using posting, the total for the Accounts Receivable account should be:
- Purchased goods for £1,000 paid by bank transfer. The correct transaction will be: Debit: ---------- Credit: bank--------------1Which of the following states the entries required to account for a reimbursement to the petty cash float of $125 from the bank account? Cr Cash and bank Cr Petty cash A Dr Petty cash В Dr Cash and bank C Dr Drawings Cr Petty cash D Dr Drawings Cr Cash and bank