Author Question: The journal entry to record an NSF check would require a a. debit to Accounts Receivable and a ... (Read 81 times)

Themember4 · **on:** Jul 6, 2018

The journal entry to record an NSF check would require a
a. debit to Accounts Receivable and a credit to Cash.
b. debit to Cash and a credit to Accounts Receivable.
c. debit to Accounts Payable and a credit to Cash.
d. debit to Miscellaneous Expense and a credit to Cash.
e. debit to Cash and a credit to Accounts Payable.

Question 2

Which method of inventory assumes the last units purchased will remain in ending inventory on the balance sheet?

a. FIFO.
b. LIFO.
c. Average cost.
d. LIFO and FIFO.