The receipt of cash on account from a costumer should be recorded as A. a debit to Cash and a credit to Accounts Payable B. a debit to Cash and a credit to Income from Services C. a debit to Cash and a credit to Accounts Receivable D. a debit to Cash and a credit to Capital account 2. A cash payment on a loan affects which of the following accounts? A. Cash and accounts receivable B. Cash and notes payable C. Cash and an expense account D. Cash and a revenue account
The receipt of cash on account from a costumer should be recorded as A. a debit to Cash and a credit to Accounts Payable B. a debit to Cash and a credit to Income from Services C. a debit to Cash and a credit to Accounts Receivable D. a debit to Cash and a credit to Capital account 2. A cash payment on a loan affects which of the following accounts? A. Cash and accounts receivable B. Cash and notes payable C. Cash and an expense account D. Cash and a revenue account
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 6EB: For the following accounts indicate whether the normal balance is a debit or a credit. A. Unearned...
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Multiple choice:
1. The receipt of cash on account from a costumer should be recorded as
A. a debit to Cash and a credit to Accounts Payable
B. a debit to Cash and a credit to Income from Services
C. a debit to Cash and a credit to Accounts Receivable
D. a debit to Cash and a credit to Capital account
2. A cash payment on a loan affects which of the following accounts?
A. Cash and accounts receivable
B. Cash and notes payable
C. Cash and an expense account
D. Cash and a revenue account
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