Author Question: Office supplies were sold by Janer's Cleaning Service at cost to another repair shop, with cash ... (Read 70 times)

Pineappleeh · **on:** Jul 5, 2018

Office supplies were sold by Janer's Cleaning Service at cost to another repair shop, with cash received. Which ofthe following entries for Janer's Cleaning Service records this transaction?
a. Office Supplies, debit; Cash, credit
b. Office Supplies, debit; Accounts Payable, credit
c. Cash, debit; Office Supplies, credit
d. Accounts Payable, debit; Office Supplies, credit

Question 2

At the end of the year, the direct costs traced to jobs using the budgeted rates will equal actual direct costs.

Indicate whether this statement is true or false.