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Author Question: Accompanying the bank statement was a debit memo for bank service charges. What entry is required in ... (Read 48 times)

xroflmao

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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


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soda0602

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Reply #1 on: Jul 5, 2018
Answer to Question 1

a

Answer to Question 2

C


xroflmao

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Reply 2 on: Jul 5, 2018
Gracias!

JaynaD87

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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