Author Question: When a journal entry includes either a debit or a credit to Accounts Receivable, the amount must be ... (Read 131 times)

Frost2351

  • Hero Member
  • *****
  • Posts: 557
When a journal entry includes either a debit or a credit to Accounts Receivable, the amount must be posted to both the general ledger and the subsidiary ledger.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

A county with a fiscal year end of December 31 makes debt service payments each year from governmental fund resources. One debt service payment is for 30,000 (11,000 principal reduction, 19,000 interest) and is paid on June 30 and Dec. 31 .
 
  The other is for 20,000 (14,000 principal reduction,  6,000 interest) and is paid on March 31 and September 30 . What will the governmental fund report as expenditures for the month of December?
  a. 0
  b. 19,000
  c. 22,000
  d. 30,000
  e. 40,000



AISCAMPING

  • Sr. Member
  • ****
  • Posts: 347
Answer to Question 1

True

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

For a complete list of videos, visit our video library