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Author Question: If payment is due by the end of the month in which the sale is made, the invoice terms are expressed ... (Read 28 times)

madam-professor

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  • Posts: 584
on: Jul 5, 2018
If payment is due by the end of the month in which the sale is made, the invoice terms are expressed as n/30.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

A general journal provides a ________.
 
  A) list of accounts and their debit or credit balances after the temporary accounts have been closed
  B) chronological record of transactions
  C) list of financial statement line items and their debit or credit balances that is prepared before recording adjusting entries
  D) record of increases and decreases to each account


diana chang

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Reply #1 on: Jul 5, 2018
Answer to Question 1

False

Answer to Question 2

B


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