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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Help me answer 10-12

Transcribed Image Text:10. Service rendered on account is recorded by a:
A. Debit to service revenue
B. Credit to cash
C. Debit to accounts receivable
D. Credit to accounts payable
11. Payment of an accounts is recorded by a:
A. Debit to accounts receivable
B. Debit to accounts payable
C. Credit to cash
D. Both B and C are correct
12. When an amount is posted on the wrong side of the
account:
A. There is no error
B. The amount off error is twice that of the amount posted
C. The amount of error is exactly divisible by two
D. Both B and C are correct
Expert Solution
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