2. Transaction Analysis

When a business pays cash for a cell phone bill, which two accounts are affected in the journal entry?

Which of the following is the correct journal entry to record the payment of a liability in cash?

In the context of journal entries, which of the following best describes a credit?

An electronic goods store sells a laptop for $1,200 cash. Which of the following is the correct journal entry to record this transaction?

When a customer (1) accepts a note and (2) subsequently dishonors the note, what entries are made in the customer's account?

Which of the following transactions is recorded with a debit to Cash and a credit to Interest Receivable?

When a purchase order is created, which account is typically debited in the accounting records?

When a company purchases equipment for cash, which of the following journal entries correctly reflects the increase or decrease in the respective accounts?

Which of the following best describes the process of recording transactions in a journal?

In the context of recording journal entries, if a formula in cell D49 calculates the debit amount for a transaction and is copied to cell E49, which of the following is most likely to occur?

What would be the correct journal entry to record a $3,000 cash sale of merchandise?

Which of the following would most likely be recorded as the largest deduction from an employee's gross pay in a typical payroll journal entry?

Which of the following documents is a form requesting the purchase of merchandise?

The journal entry to record the use of direct materials in process costing is a(n):

A $15 credit to revenue was mistakenly posted as a $150 credit. By what amount is the revenue account in error?