Author Question: Collection of a sale on account is recorded in the sales journal. a. True b. False Indicate ... (Read 82 times)

ARLKQ · **on:** Jul 6, 2018

Collection of a sale on account is recorded in the sales journal.
a. True
b. False
Indicate whether the statement is true or false

Question 2

40,000 of General Fund expenditures had been paid for from and recorded in a Special Revenue Fund. Upon discovery of this situation, 40,000 was paid from the General Fund to the Special Revenue Fund.

This transaction is recorded in the Special Revenue Fund by debiting Cash and crediting
A. Expenditures.
B. Other financing sources in.
C. Transfer in.
D. Revenues.