The Credit Card Expense column would most likely be found in
a. the purchases journal.
b. the cash payments journal.
c. the sales journal.
d. the cash receipts journal.
e. all the special journals.
Question 2
Assume that a governmental entity acquires a new garbage truck. The garbage truck costs 189,000 . The vendor allowed a 30,000 allowance with the trade-in of the entity's old garbage truck, which had a net book value of 42,000 .
The government financed the balance with a short-term bank note. The new garbage truck would be recorded in the General Capital Assets account at
a. 0
b. 189,000
c. 159,000
d. 177,000
e. 207,000
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