Author Question: When a journal entry includes either a debit or a credit to Accounts Receivable, the amount must be ... (Read 77 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?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

For a complete list of videos, visit our video library