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igomit [66]
3 years ago
13

The bank received and accepted a payment worth $7,200 from a customer on the company’s behalf. Which journal entry adjustment sh

ould the accountant make?
A. Sccounts receivable will be debited by $7,200.
B. Accounts payable will be debited by $7,200.
C. Accounts receivable will be credited by $7,200.
D. Accounts payable will be credited by $7,200.
Business
2 answers:
Oliga [24]3 years ago
7 0

Answer:

A. Accounts receivable will be debited by $7,200.

Explanation:

Accounts receivable is the payments that customers owe to a business. It arises when a business sells goods to customers of credit. Accounts receivables are current assets as they represent money that the business expects to receive in the short term.

Recording the transaction for accounts receivable follows the principle for recording assets transactions.  An increase in assets is debited. The accountant will debit accounts receivable by an amount of $7200.

Sladkaya [172]3 years ago
5 0

Answer:

The answer is: C. Accounts receivable will be credited by $7,200.

Explanation:

It is correct on edmentum. I took the test.

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When an oil cartel effectively increases the price of oil by 100% causing a shock in oil consuming countries A and B.

The FED in country A takes immediate action increasing the money supply, while FED in inflationary country B does not take any action

In this case, in long term "Both countries return to their long-term stable equilibrium, but country A will remain with a higher price level than country B".

<h3>What is Federal Reserve System (FED)?</h3>

The nation's central banking system is the Federal Reserve System, usually referred to as the Federal Reserve or just the Fed.

The Fed offers a secure, adaptable, and stable monetary and financial system to the nation.

The Fed's primary responsibilities include-

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1 year ago
When Nike purchases it's raw materials it wants to ensure they meet a specific quality management standard worldwide. This will
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Answer:

their

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Nike should purchase it's raw materials from organizations that meet ______their_______________ standards.

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On April 1, 2021, Austere Corporation issued $330,000 of 11% bonds at 106. Each $1,000 bond was sold with 30 detachable stock wa
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Answer:

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Explanation:

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The bonds issued = $330,000 at 106

Number of $1,000 bonds issued = 330 ($330,000/$1,000)

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