Muscat Company Paid R.O 4, 000 on balance owed for Account Payable incurred last month. Which of the following journal entries is recorded correctly and in the standard format? Select the correct answer: Select one: O a. DEBIT Cash OMR 4,000 and CREDIT Account Payable OMR 4,000 O b. DEBIT Account Payable OMR 4,000 and CREDIT Cash OMR 4,000 O c. No entry-not a transaction O d. DEBIT Cash OMR 4,000 and CREDIT Utilities Expense OMR 55,000 O e. DEBIT Utilities Expense OMR 4,000 and CREDIT Account Payable OMR 4,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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to Financial Accounting / FINAL EXAM ACCT101 FALL 2020-2021
Muscat Company Paid R.O 4, 000 on balance owed for Account Payable incurred last month. Which of the following journal
entries is recorded correctly and in the standard format?
Select the correct answer:
ion
Select one:
O a. DEBIT Cash OMR 4,000 and CREDIT Account Payable OMR 4,000
O b. DEBIT Account Payable OMR 4,000 and CREDIT Cash OMR 4,000
Oc. No entry-not a transaction
O d. DEBIT Cash OMR 4,000 and CREDIT Utilities Expense OMR 55,000
e. DEBIT Utilities Expense OMR 4,000 and CREDIT Account Payable OMR 4,000
Finish attempt
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Transcribed Image Text:to Financial Accounting / FINAL EXAM ACCT101 FALL 2020-2021 Muscat Company Paid R.O 4, 000 on balance owed for Account Payable incurred last month. Which of the following journal entries is recorded correctly and in the standard format? Select the correct answer: ion Select one: O a. DEBIT Cash OMR 4,000 and CREDIT Account Payable OMR 4,000 O b. DEBIT Account Payable OMR 4,000 and CREDIT Cash OMR 4,000 Oc. No entry-not a transaction O d. DEBIT Cash OMR 4,000 and CREDIT Utilities Expense OMR 55,000 e. DEBIT Utilities Expense OMR 4,000 and CREDIT Account Payable OMR 4,000 Finish attempt Seyll lis si page
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