Author Question: Which of the following entries records the payment of an account payable? a. debit Cash; credit ... (Read 115 times)

s.tung · **on:** Jul 5, 2018

Which of the following entries records the payment of an account payable?
a. debit Cash; credit Accounts Payable
b. debit Accounts Receivable; credit Cash
c. debit Cash; credit Supplies Expense
d. debit Accounts Payable; credit Cash

Question 2

A government has the following debt:
Capital lease liabilities (General Fund department leases)3,200,000.
Unfunded pension contributions (long-term) associated with general government employees1,000,000.

General government bonds that mature in the next fiscal year5,000,000.

What amount of debt should be reported in the General Long-Term Liabilities accounts?
A. 1,000,000.
B. 3,200,000.
C. 4,200,000.
D. 9,200,000.