This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Accompanying the bank statement was a debit memo for bank service charges. What entry is required in ... (Read 108 times)

xroflmao

  • Hero Member
  • *****
  • Posts: 515
on: Jul 5, 2018
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

soda0602

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

C


xroflmao

  • Member
  • Posts: 515
Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

ghepp

  • Member
  • Posts: 361
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Human immunodeficiency virus gains entry into helper T cells, uses the cell DNA to replicate, interf Human immunodeficiency virus gains entry into helper T cells, uses the cell DNA to replicate, interf
A visually impaired patient is assisted by a service dog. A visually impaired patient is assisted by a service dog.
Triumphal Entry, page from a manuscript of Firdawsi's Shahnamah, Persian, Safavid culture. Triumphal Entry, page from a manuscript of Firdawsi's Shahnamah, Persian, Safavid culture.
A form that the customer should fill out if there is a driveablilty concern to help the service ... A form that the customer should fill out if there is a driveablilty concern to help the service ...
The WISER entry for hydrogen cyanide (bottom). Useful information includes detailed health ... The WISER entry for hydrogen cyanide (bottom). Useful information includes detailed health ...
A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ... A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ...
Video: Red alga life cycle Animation

For a complete list of videos, visit our video library