This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: On May 3, Doe, Inc. performed 2,000 of services for a client on account. On May 27, Doe, Inc. ... (Read 26 times)

jrubin

  • Hero Member
  • *****
  • Posts: 552
on: Jul 5, 2018
On May 3, Doe, Inc. performed 2,000 of services for a client on account. On May 27, Doe, Inc. received 500 of the amount owed. The remaining balance will be collected on June 2. The May 27 journal entry will include a ________.
 
  A) credit to Revenue of 500
  B) credit to Accounts receivable of 500
  C) credit to Revenue of 2,000
  D) credit to Accounts payable of 500

Question 2

The abbreviation FOB stands for free on board.
 a. True
  b. False
 
   Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

makaylafy

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jul 5, 2018
Answer to Question 1

B

Answer to Question 2

True


jrubin

  • Member
  • Posts: 552
Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review

elyse44

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Client position when assessing jugular vein distention. Client position when assessing jugular vein distention.
Greet a First-Time Client With a Firm Handshake. Greet a First-Time Client With a Firm Handshake.
Pincement. Tapotement performed by gently picking up superficial tissues between the thumb and the ... Pincement. Tapotement performed by gently picking up superficial tissues between the thumb and the ...
Apply the substance to the client’s upper chest. Apply the substance to the client’s upper chest.
Client files are kept in alphabetical order in locked file cabinets. Client files are kept in alphabetical order in locked file cabinets.
Testing the Achilles tendon reflex with client in a sitting position Testing the Achilles tendon reflex with client in a sitting position
Video: Primary Active Transport - electrochemical gradient and ion transport / water movement

For a complete list of videos, visit our video library