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OLga [1]
3 years ago
13

Credit sales are recorded by crediting an accounts receivable.

Business
1 answer:
Anna35 [415]3 years ago
8 0
The answer to the sentence above is false based on the transaction above. Account Receiveable is an asset account which has "debit" as its natural balance. Recording credit sales will increase the account receivable balance and sales balance, thus an increase in account receivable balance occurs on the debit side.
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Harry, Hermione, and Ron formed an S corporation called Bumblebore. Harry and Hermione both contributed cash of $29,400 to get t
Anna007 [38]

Answer:

$29,400; $29,400 and $18,400

Explanation:

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Ron's basis = Basis of parcel of land - Mortgage value

                   = $58,800 - $40,400

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7 0
3 years ago
At its date of​ incorporation, McCarty Company issued​ 100,000 shares of its​ $10 par common stock at​ $11 per share. During the
Paul [167]

Answer:

(C) Decrease No effect

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at purchase:

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8 0
3 years ago
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Answer:

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