Author Question: When a journal entry includes either a debit or a credit to Accounts Receivable, the amount must be ... (Read 123 times)

Frost2351

  • Hero Member
  • *****
  • Posts: 557
When a journal entry includes either a debit or a credit to Accounts Receivable, the amount must be posted to both the general ledger and the subsidiary ledger.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

A county with a fiscal year end of December 31 makes debt service payments each year from governmental fund resources. One debt service payment is for 30,000 (11,000 principal reduction, 19,000 interest) and is paid on June 30 and Dec. 31 .
 
  The other is for 20,000 (14,000 principal reduction,  6,000 interest) and is paid on March 31 and September 30 . What will the governmental fund report as expenditures for the month of December?
  a. 0
  b. 19,000
  c. 22,000
  d. 30,000
  e. 40,000



AISCAMPING

  • Sr. Member
  • ****
  • Posts: 347
Answer to Question 1

True

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

For a complete list of videos, visit our video library