Sales to customers who use bank credit cards such as MasterCard and VISA are usually recorded by aOa. debit to Sales, a debit to Credit Card Expense, and a credit to CashOb. debit to Bank Credit Card Sales, a debit to Credit Card Expense, and a credit to SalesOc. debit to Cash and a credit to SalesOd. debit to Cash, a credit to Credit Card Expense, and a credit to Sales

Sales: It is an activity involved in selling goods or services.

Answered: Sales to customers who use bank credit…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 3MC: If a customer pays with a credit card and the service has been provided, which of the following...

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Similar questions

You just posted a credit to Stars Inc. in the accounts receivable subsidiary ledger. Which special journal did it come from? A. sales journal B. cash receipts journal C. purchases journal D. cash disbursements journal E. general journal
You just posted a credit to Accounts Receivable. Which special journal did it come from? A. sales journal B. cash receipts journal C. purchases journal D. cash disbursements journal E. general journal
You just posted a debit to ABC Co. in the accounts receivable subsidiary ledger. Which special journal did it come from? A. sales journal B. cash receipts journal C. purchases journal D. cash disbursements journal E. general journal
A journal entry that requires a debit to Accounts Receivable and a credit to Sales goes in which special journal?
Match the following words with their definitions by entering the correct number in the spaces below. 1.deposit ticket 2.ATM 3.check 4.bank statement 5.blank endorsement _____ a.A document ordering a bank to pay cash from a depositors account. _____ b.An endorsement where the payee simply signs the back of the check, making the check payable to any bearer. _____ c.Automated teller machinea machine used by depositors to make withdrawals or deposits at any time. _____ d.A statement of account issued by a bank to each depositor once a month. _____ e.A form showing a detailed listing of items being deposited.
You just posted a credit to Sales and a debit to Cash. Which special journal did it come from? A. sales journal B. cash receipts journal C. purchases journal D. cash disbursements journal E. general journal
Accompanying the bank statement was a credit memo for a short-term note collected by the bank for the customer. What entry is required in the company's accounts? Oa. debit Cash; credit Notes Receivable and Interest Revenue Ob. debit Accounts Receivable; credit Cash Oc. debit Cash; credit Miscellaneous Income Od. debit Notes Receivable; credit Cash
The sales journal is used to record______. cash sales on account debit transactions credit cards
When a customer uses a credit card such as MasterCard or VISA to buy merchandise in a store, the store owner records the sale as a/an ______________________. Group of answer choices cash sale. debit to sales and a credit to cash. credit to accounts receivable. a credit sale and debits the customer's accounts receivable account.
Question: 1. what is the correct source documents for credit sales by business X. option: a) invoice issued by business X. b) Receipts issued by business X. c) Bank credit advice. d) internal memo. e) cash sales slip. f) Cheque butt. g) credit note issued by business X. reqiured: please answer this question by choosing the right source document.
7. Of the following, which is an internal report that will determine if the total of the debit balances equal the total of the credit balances in the ledger? A. horizontal analysis B. trial balance C. chart of accounts D. income statement 8. Sales to customers who use bank credit cards, such as MasterCard and Visa, are generally treated as A. sales returns B. cash sales C. sales when the credit card company remits the cash D. sales on account 9. Who is responsible for the freight costs when the terms are FOB shipping point? A. either the seller or the buyer B. the seller C. the ultimate customer D. the buyer
A customer issued a note for an overdue account. Which of the following procedures is correct? A. The note is credited in the general journal by a debit to accounts receivable B. The amount will be posted to the credit side of the customer's card C. The amount will be posted to the debit side of the customer's card D. This will be posted to the accounts receivable general ledger on the debit side.

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