7

Home  My courses  BUS 1102 - AY2020-T5  Final Exam (Days 1 - 4)  Final Exam

Question 21 Answer saved Marked out of 1.00

Which of the following errors would be disclosed by preparation of a trial balance?

Select one:

a. The collection of an account receivable was recorded by a debit to the Land account
rather than to the Cash account.

b. The collection of an account receivable for $319 was recorded by a $391 debit to Cash
and a $391 credit to Accounts Receivable.

c. The collection of a $375 account receivable was not recorded at all.

d. The collection of a $225 account receivable was recorded by a $225 debit to Cash and
a $255 debit to Accounts Receivable.

Clear my choice

Question 22 Answer saved Marked out of 1.00

The journal entry to record a particular business transaction includes a credit to the
Cash account. This transaction is most likely also to include:

Select one:

a. Issuance of new capital stock.

b. The purchase of an asset on account.

c. Payment of an outstanding note payable.

d. A credit to Accounts Receivable.

Clear my choice