The way that the the T account look like after analyzing this transaction is D. Accounts Receivable is debited to increase, and Sales is credited to increase.
<h3>What is a T account?</h3>
A T-account is a colloquial term for a collection of financial records that use double-entry bookkeeping. A T-account is so named because the bookkeeping entries are organized in the shape of a T. Just above the T is the account title.
Accounts receivable are the funds owed by a company's customers for goods or services received but not yet paid for. When a customer purchases a product on credit, the amount owed is added to the accounts receivable.
Therefore, when you have a copy of an invoice sent to a customer for services provided on account, the accounts receivable is debited to increase.
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Answer:
3.36 years
Explanation:
The cash outflows and the cash inflows are shown below:
In year 0 = $4,300
In year 1 = $550
In year 2 = $970
In year 3 = $2,600
In year 4 = $500
When we add the first three-year cash inflows, it would be $4,120 Now we subtract the $4,120 from the $4,300, so the sum would be $180 as if we added the fourth-year cash inflow to the initial investment, then it exceeds.
Therefore, we subtract it, and the next year's cash inflow will be $500.
= 3 years + $180 ÷ $500
= 3.36 years
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Answer:
b. increase expenses by $12,900.
Explanation:
When supplies are purchased, the entries required are debit to supplies account and a credit to cash. when the supplies are used up, debit supplies expense and credit supplies account.
Hence, the amount to be expensed is the difference between the purchases and the ending supplies balance if the opening balance in supplies account is nil.
Supplies used up
= $19,350 - $6,450
= $12,900
This will be posted as a debit to the supplies expense account.
