Accompanying the bank statement was a debit memo for bank service ...

[xroflmao]

Accompanying the bank statement was a debit memo for bank service charges. What entry is required in thecompany's accounts?
 a. debit Miscellaneous Administrative Expense; credit Cash
  b. debit Cash; credit Other Income
  c. debit Cash; credit Accounts Payable
  d. debit Accounts Payable; credit Cash

Question 2

Ace Electronics accepted a promissory note from Fenstermaker, who promised to pay Ace 2,000 plus 6 interest at the end of six months. What is the amount of interest that will be paid at the end of the six-month period?
 
  A) 120
  B) 240
  C) 60
  D) 2,060

[soda0602]

Answer to Question 1

a

Answer to Question 2

C

[xroflmao]

TYSM

[ultraflyy23]

Excellent