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Author Question: Which of the following uses the flow of economic resources measurement focus? a. General Fund b. ... (Read 28 times)

Starlight

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  • Posts: 567
on: Jul 6, 2018
Which of the following uses the flow of economic resources measurement focus?
 
  a. General Fund
  b. Debt Service Fund
  c. Special Revenue Fund
  d. Internal Service Fund

Question 2

What is the journal entry to record the receipt of payment on February 10th for the following: February 2nd, merchandise sold on account in the amount of 475 . Credit terms 2/10, n/30.
 a. Cash 475 DR
   Accounts Receivable 475 CR
   b. Accounts Receivable 475 DR
   Cash 475 CR
   c. Cash 465.50 DR
  Sales Discount 9.50 DR
   Accounts Receivable 475 CR
   d. Accounts Receivable 475 DR
   Cash 465.50 CR
   Sales Discount 9.5 CR


kmb352

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  • Posts: 319
Reply #1 on: Jul 6, 2018
Answer to Question 1

D

Answer to Question 2

c


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