Cash is used to pay for a car for personal use by the owner. The ...

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Cash is used to pay for a car for personal use by the owner. The transaction includes
 a. debiting Cash and crediting Drawing.
   b. debiting Drawing and crediting Cash.
   c. debiting Capital and crediting Cash.
   d. debiting Car Expense and crediting Cash.

Question 2

Cash collections for October are ________.
 
  A) 117,000
  B) 179,800
  C) 194,000
  D) 176,400

[LVPMS]

Answer to Question 1

b

Answer to Question 2

Answer:B
October sales: (180,000  0.65) + September sales (200,000  0.25) +August sales (160,000  0.08) = 179,800