A chart of accounts is a list of all ledger accounts and an identification number for each. Identify the following accounts as either an Asset, Liability, Equity, Revenue, or Expense account. a. Advertising Expense b. Rent Revenue c. Rent Receivable d. Machinery e. Accounts Payable f. Furniture g. Notes Payable h. Prepaid Insurance L. Utilities Expense

Sales Returns and Allowances account is report it like a. contra-revenue account on the income statement. b. current liability on the balance sheet. c. deduction from accounts receivable on the balance sheet. d. selling expense on the income statement.

Which of the following items is considered an original source document? Select one: a. accounts receivable b. company expense account c. purchase order d. general ledger

Explain how accounts receivable are presented in the financial statements.

a list of each customer account and thre balance owed is a:

The type of account with a normal credit balance is: Group of answer choices an asset drawing a revenue an expense

Provide an example of an account that would be listed under Current Liabilities on a balance sheet and briefly explain why it would be categorized this way.   How would we categorize the balance in a Notes Payable account: under Current Liabilities or Noncurrent Liabilities? Why?

The journal entry to record the sale of services on credit should include: a debit to Cash and a credit to Accounts Receivable. a debit to Accounts Receivable and a credit to Capital. a debit to Fees Income and a credit to Accounts Receivable. a debit to Accounts Receivable and a credit to Fees Income.