Answer:
They should credit $850 to assets and debit $850 to stockholders' equity (A)
Explanation:
The cash outflow of $850 will reduce the cash position of the company (i.e cash balance under current assets, hence it should be credited) while the stockholders's equity account needs to be debited because the transaction represents a depletion in the value of the company.
Asset account is reduced by crediting while common stock account is reduced by debiting.
Pretty sure its A
jshabahajjsjwnska
Answer:
O $2,300,000
Explanation:
When fees are received in advance but yet to be earned, a debit is posted to cash account and a credit to magazine subscriptions collected in advance account.
When revenue is earned credit Magazine subscriptions revenue, and debit magazine subscriptions collected in advance.
Given that the magazine subscriptions collected in advance account had a balance of $1,700,000 at December 31, year 1 and cash receipt in year 2 from subscribers was $2,100,000 while the revenue generated in that year was $1,500,000
The balance for magazine subscriptions collected in advance
= $1,700,000 + $2,100,000 - $1,500,000
= $2,300,000
I would say: a. health insurance policy hope this help :) and thank u for the points
The answer would be Management System.