In the first month of operations, the total of the debit entries to the cash account amounted to $1230 and the total of the credit entries to the cash account amounted to $840. The cash account has a(n) O $390 debit balance. O $840 credit balance. O $1230 debit balance. O $390 credit balance.

Q: What about time flows and cash Value money?

A: The time value of money refers to a sum of money that is worth more now than the same sum of money…

Q: What is easy-access credit?

A: Introduction: The ability to borrow cash or obtain goods or services with expectation of repaying it…

Q: explain two functions of the credit uniom

A: A credit union is established as a not-for-profit organization (NPO). It consists of members who…

Q: what is net purchases? Is there another term for it?

A: Net purchases is an important metric in accounting because it is used to calculate the cost of goods…

Q: What type of function models a savings account

A: The saving accounts contain compound interest charge on their balances which indicates the…

Q: What exactly is a genuine account?

A: Genuine account: Genuine account is generally referred to as a real account. Real accounts are…

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

A: Accounts Payable is the current liability for the business and Accounts Receivable is a current…

Q: What exactly is the meaning of the word debit?

A: All transactions of an entity are presented in form of journal entries. Journal entry consists of…

Q: What does liquidity mean?

A: Liquidity:

Q: What is deposits in transit?

A: Definition: Bank reconciliation: Bank statement is prepared by the bank. The company maintains its…

Q: hat is the difference between a nominal account and a real account?

A: Accounting transactions for a separate fiscal year are recorded in a nominal account. Accounting…

Q: What are credit terms?

A: Credit terms or terms of credit It is the vender purchaser agreement that rundowns the planning and…

Q: How does assignment of accounts receivable differ from factoring?

A: Financial Management  Financial management is the area of business concerned with allocating the…

Q: Do the terms 'debit' and 'credit' signify increase or decrease or can they signify either? Explain.

A: Debit and credit are fundamental accounting terms used to record financial transactions in…

Q: What are some examples of  loan documents?

A: Loan Document:When taking out a loan, the borrower and lender enter into a legal agreement that…

Q: What IF function can be used to determine whether or not an amount in a certain cell should be a…

A: A journal entry is the first step in including a transaction into the books of accounts. Under the…

Q: What is Form of payments

A: Payments are the consideration paid for buying goods or for receiving services. Goods include…

Q: What is purchase returns?

A:

Q: what is debit and credit?

A: Debits and credits seem to be a bookkeeping notation framework that determines how and where every…

Q: Is Capital debit or credit?

A: As per Business Entity concept Business is treated as an entity which is different from Proprietor.…

Q: Money acts as a

A: MEANING OF MONEY

Q: What is the other name of purchases returns

A: Whenever inventory is being purchased in business for sale or for use in production and…

Q: When are debits increases? When are debits decreases?

A: Debits Increases and Decreases: This forms a fundamental part of understanding of the flow of…

Q: In your own definition what is credit and what is collection

A: The businesses tend to conduct their operations not only on a cash basis but also on a credit basis.…

Q: What is meant by a line of credit?

A: Credit refers to the concept is being defined as the financial agreement where the borrowers receive…

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.