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Cormier's Books has the following data in its federal Income Tax payable General Ledger account: Federal Income Tax payable DATE February 28 March 15 DESCRIPTION POST REFERENCE 34 35 For the entry on February 28, what does the J4 signify? DEBIT Account Number 221 CREDIT $ 3,468.22 BALANCE DEBIT CREDIT $ 6,952.82

Cormier's Books has the following data in its federal Income Tax payable General Ledger account: Federal Income Tax payable DATE February 28 March 15 DESCRIPTION POST REFERENCE 34 35 For the entry on February 28, what does the J4 signify? DEBIT Account Number 221 CREDIT $ 3,468.22 BALANCE DEBIT CREDIT $ 6,952.82

FINANCIAL ACCOUNTING
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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Multiple Choice O O O It is the fourth entry in the General Journal on that date. The transaction appears on page four of the General Journal. It is the fourth repetition of the same entry. The account appears fourth in the list of liability accounts
Transcribed Image Text:Multiple Choice O O O It is the fourth entry in the General Journal on that date. The transaction appears on page four of the General Journal. It is the fourth repetition of the same entry. The account appears fourth in the list of liability accounts
Cormier's Books has the following data in its federal Income Tax payable General Ledger account: Federal Income Tax payable DATE February 28 March 15 DESCRIPTION POST REFERENCE DEBIT J4 35 For the entry on February 28, what does the J4 signify? Account Number 221 CREDIT $ 3,468.22 BALANCE DEBIT CREDIT $ 6,952.82
Transcribed Image Text:Cormier's Books has the following data in its federal Income Tax payable General Ledger account: Federal Income Tax payable DATE February 28 March 15 DESCRIPTION POST REFERENCE DEBIT J4 35 For the entry on February 28, what does the J4 signify? Account Number 221 CREDIT $ 3,468.22 BALANCE DEBIT CREDIT $ 6,952.82
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