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2 years ago

A motor vehicle sold on credit to C. Kelly will require which of the following entries:

1 answer:

4 0

When a motor vehicle is sold to C. Kelly on credit, the relevant entries would be Debit C. Kelly, Credit Motor vehicle.

When an item is sold on credit to an entity, that entity becomes an Accounts Receivable. As this is an asset, it is debited when it increases which is the case here with C. Kelly purchasing the car on credit.

The motor vehicle account is an asset and assets are credited when they decrease. By selling the vehicle, the motor vehicle account will be credited to show that motor vehicles have decreased.

In conclusion, the accounting entry for the above scenario would be Debit C. Kelly, Credit Motor vehicle.

Find out more at brainly.com/question/20519391.

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Answer:

Trusper Company

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Explanation:

a) Data and Calculations:

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Common stock = $3,000 (3,000 * $1)

Dividends in Year 1 for cumulative preferred stockholders = $20,000 ($200,000 * 10%)

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2 years ago

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The correct answer is letter (A). Raymond Cattell's Personality Factor Questionnaire can be used to "predict an individual's behavior." Raymond Bernard Cattell was an American and British psychologist who is know of its intrapersonal psychological structure and exploration to different areas of empirical psychology.

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Answer and Explanation:

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3 years ago

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3 years ago

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Answer:

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