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In: Accounting

Answer the following questions: Q.1) Is collecting cash from customer accounts receivable an expense or a...

Answer the following questions:

Q.1) Is collecting cash from customer accounts receivable an expense or a revenue?

Q.2) Is purchasing supplies on account an expense or a revenue?

Q.3) Is cash receipts an expense or a revenue?

Q.4) Are invoices for services on account an expense or a revenue?

Q.5) Is paying for utility bills in the month of May that were received in the month of April an expense or a revenue?

Q.6) Is paying for employee salaries an expense or a revenue?

Q.7) Is purchasing a one-year insurance policy an expense or a revenue?

Q.8) Is paying $100 ( on 10th May) on the account payable that was established when supplies worth $200 were purchased on on 10th April, an expense or a revenue?

Q.9) Is receiving monthly utility bills amounting to $200 in the month of May that are to be paid in June an expense or a revenue?

Q.10) Are invoices for sales on account an expense or a revenue?

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Expert Solution

ekkarill92 answered 1 year ago
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