Multiple choice: 19. Jackson Company received cash on account from customers, P2,300. Thed. Cash is debited.accountant would record ad. debit to income from services, P2,300.D. credit to income from services, P2,300.debit to accounts receivable, P2,300.d. credit to accounts receivable, P2,300.C.20. Ais a transaction that requires more than one debitmore than one credit to be recorded.a. complex entryb. double entryC. deluxe entryd. compound entry

Solution 19: Cash is real account, same is debited when cash is received based on principal "Debit…

a. debit to income from services, P2,300. 2,300. accountant would record a b. credit to income from services, P2,300. C. debit to accounts receivable, P2,300. d. credit to accounts receivable, P2,300.

a. debit to income from services, P2,300. 2,300. accountant would record a b. credit to income from services, P2,300. C. debit to accounts receivable, P2,300. d. credit to accounts receivable, P2,300.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 4EB: For each of the following transactions, state which special journal (Sales Journal, Cash Receipts...

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Question

Multiple choice:

19. Jackson Company received cash on account from customers, P2,300. The
d. Cash is debited.
accountant would record a
d. debit to income from services, P2,300.
D. credit to income from services, P2,300.
debit to accounts receivable, P2,300.
d. credit to accounts receivable, P2,300.
C.
20. A
is a transaction that requires more than one debit
more than one credit to be recorded.
a. complex entry
b. double entry
C. deluxe entry
d. compound entry

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