Question

In: Accounting

Net wages of 24,000 are paid to employees. Which account is debited? Select one: a. Cash...

Net wages of 24,000 are paid to employees. Which account is debited?

Select one:

a. Cash

b. Net wages control

A business invoices customers for fees, giving credit of 30 days. Which account is the debit entry posted to?

Select one:

a. Accounts receivable

b. Accounts payable

A telephone bill is received by the business for 500. Which account is the debit entry posted to?

Select one:

a. Telephone expense

b. Accounts payable

A deposit of 1,500 is received from a customer for work to be started next month. Which account is credited?

Select one:

a. Fee income

b. Deferred income

What entry should you make in an asset account to increase an asset?

Select one:

a. Debit

b. Credit

What entry should you make in a liability account to increase a liability?

Select one:

a. Credit

b. Debit

Solutions

Expert Solution

ekkarill92 answered 2 years ago
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