ABC Co.'s July bank statement shows a $5,450 cheque received from customer Ms. Mary Opal for invoice#536 returned NSF. Ms. Mary Opal has agreed to replace the cheque ASAP. ABC Co. should record thefollowing adjusting entry:O A. Debit bank charges expense, credit accounts receivableB. Debit bad debt expense, credit cashO C. Debit cash, credit accounts receivableD. Debit accounts receivable, credit cashReset Selection

ABC Co.'s July bank statement shows a $5,450 cheque received from customer Ms. Mary Opal for invoice# 536 returned NSF. Ms. Mary Opal has agreed to replace the cheque ASAP. ABC Co. should record the following adjusting entry: A. Debit bank charges expense, credit accounts receivable B. Debit bad debt expense, credit cash C. Debit cash, credit accounts receivable D. Debit accounts receivable, credit cash

ABC Co.'s July bank statement shows a $5,450 cheque received from customer Ms. Mary Opal for invoice# 536 returned NSF. Ms. Mary Opal has agreed to replace the cheque ASAP. ABC Co. should record the following adjusting entry: A. Debit bank charges expense, credit accounts receivable B. Debit bad debt expense, credit cash C. Debit cash, credit accounts receivable D. Debit accounts receivable, credit cash

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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