Time Sensitive please help!! I'll e sure to rate! 6 miutes left!! 1.The entry to...
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Accounting
Time Sensitive please help!! I'll e sure to rate! 6 miutes left!!
1.The entry to record a purchase of supplies on accountwould be:
Multiple Choice
debit to supplies, credit to accounts payable
debit to cash, credit to supplies
debit to accounts receivable, credit to supplies
debit to accounts payable, credit to supplies
2.
On a multiple-step income statement, interest expense is reported as a(n):
Multiple Choice
other income and expense item
general and administrative expense
selling expense
cost of goods sold (COGS)
3.
Equipment that costs $12,000 and has accumulated depreciation of $9,000 sold for $2,600. The journal entry would include a
Multiple Choice
debit to Loss on Sale of Equipment for $9,400.
credit to Equipment for $3,000.
credit to Accumulated Depreciation for $9,000.
debit to Loss on Sale of Equipment for $400.
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