Multiple Choice
A journal entry to record a payment on account will include a
A) debit to accounts receivable.
B) credit to accounts receivable.
C) debit to accounts payable.
D) credit to accounts payable.
Correct Answer:

Verified
Correct Answer:
Verified
Q16: At December 31, 2007, Sue's Boutique had
Q17: A journal entry to record a receipt
Q18: A trial balance<br>A)proves that debits and credits
Q19: Nominal accounts are also called<br>A)temporary accounts.<br>B)permanent accounts.<br>C)real
Q20: With a perpetual inventory system, a company
Q22: When a company uses a periodic
Q23: All liability and stockholders' equity accounts are
Q24: Tolan Corp.'s trademark was licensed to
Q25: Debit always means<br>A)right side of an account.<br>B)increase.<br>C)decrease.<br>D)none
Q26: On June 1, 2007, Nott Corp.loaned Horn