cs e question. 1. Sales on account are recorded as: A. Debit Accounts Receivable
ID: 2561269 • Letter: C
Question
cs e question. 1. Sales on account are recorded as: A. Debit Accounts Receivable, credit Service Revenue. B. Debit Cash, credit Service Revenue. C. Debit Cash, credit Deferred Revenue. D. Dehit Service Revenue, credit Accounts Receivable. 2. The normal balance ofthe account "Allowance for Uncollectible Acounts is a- A. Dehit it is an expense in the income statement B. Dehit it is a contra account to Revenue C. Credit it is a contra account to Bad Debt Expense D. Credit, it is a contra account to Accounts Receivable because- - 3. Which method is not allowed for uncoliectible acoounts? A. Allowunce method B. Aging method C. D. Direct write-off method. under Generally Accepted Accounting Principles for the purpose of accounting 4.On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n 30. How would Fiores record the sale on November 10? A Accounts Receivable 7,840 Sales Revenue 7,840 B. 8,000 Sales Revenue 8,000 C. Receivable 7,840 Discounts 160 Sales Revenue 8,00 8,00 D. Accounts Receivable Cash Discounts 7.840 Sales RevenueExplanation / Answer
1- A debit accounts receivables credit service revenue
2-D credit, it is a conta account to accounts receivables
3- D- direct write off method
4- b - debit accounts receivables 8000
credit sales revenue 8000
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