Assume a $500 payment for Phone Expense was incorrectly journalized as a debit to Phone Expense of $50 and a a. Phone Expense Cash b. Cash Phone Expense C. Phone Expense Cash 50 500 450 50 500 450
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- A credit memorandum results in a(n) ___ in a customers accounts receivable file. A. memo B. decrease C. Transer D. IncreaseYou just posted a debit to ABC Co. in the accounts receivable subsidiary ledger. Which special journal did it come from? A. sales journal B. cash receipts journal C. purchases journal D. cash disbursements journal E. general journalYou just posted a credit to Accounts Receivable. Which special journal did it come from? A. sales journal B. cash receipts journal C. purchases journal D. cash disbursements journal E. general journal
- Use the following to answer questions 16 - 19 For each transaction indicate whether it should: A. increase, B. decrease, or C. no effect. Credit sales transaction cycle Asskiabilitstockholders’ equRtøvenespenses 16. Provide services on account 17. Estimate uncollectible accounts 18. Write off accounts as uncollectible 19. Collect on account previously written offUse the following T-account for Careful Corporation to answer questions 11 and 12: Accounts Receivable Beg. Bal. $ 187 18 150 6 64 15 19 End. Bal. $ ? The ending balance of Accounts Receivable for Careful is: Group of answer choices A. $401 debit B. $343 debit C. $343 credit D. $ 58 creditYou pay your business phone bill paying cash. How would you record this transaction? * O Debit Bank, Credit Phone Expense O Debit Phone Expense, Credit Bank O Debit Phone Expense, Credit 0.E.
- If a $335.00 debit item in the general journal is posted as a credit: By how much will the trial balance be out of balance? Explain how you might detect such an error.TeleComm customer ADR circuits paid off an $9500 balance on its accounts receivable. TeleComm should record the transaction as a debit to accounts receivable-A DR circuits and a credit to cash. True or false?When you collected Accounts Receivables, your entry would include? * O Debit Accounts Receivable O Credit Cash O Debit Cash O Credit Accounts Payable
- Why did you select those customer accounts? also how to use a cell reference to enterthe answer for the 1st question? ( Whatis the dollar amount of total receivables? Use a cell reference to input your answer)F SUM of Outstanding balance Status Customer C1003 C1004 C1006 C1010 C1012 C1013 C1026 C1028 C1029 C1036 C1037 C1045 C1048 C1051 G C1055 C1057 C1058 C1061 C1066 C1069 C1075 C1076 C1082 C1085 Grand Total H 0-Not Yet Due 30831 30831 I 1-30 Days 25579 3156 2353 31088 J 11791 26748 31-60 Days 61-90 Days 90+ Days 9367 10460 29297 K 25315 103611 25245 24713 L 49958 4115 1659 18793 12116 22957 20307 7791 30907 12102 12235 22997 25366 200712 M Grand Total 9367 25245 30831 24713 11791 26748 4115 1659 18793 10460 12116 22957 20307 25579 7791 3156 30907 12102 12235 2353 22997 29297 25366 25315 416200 N______ is the example of Liabilities. Sales Supplies in Hand Account Receivables Unearned Commission