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Author Question: Cash is used to pay for a car for personal use by the owner. The transaction includes a. debiting ... (Read 633 times)

jhjkgdfhk

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on: Jul 5, 2018
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

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Reply #1 on: Jul 5, 2018
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


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