Solved

Which of the Following Entries Would Be Recorded ONLY If  Cash 1,000 Accounts receivable 1,000\begin{array} { | l | l | l | l | } \hline \text { Cash } & & 1,000 & \\\hline & \text { Accounts receivable } & & 1,000 \\\hline\end{array}

Question 44

Multiple Choice

Which of the following entries would be recorded ONLY if a company is using the accrual method of accounting?


A)
 Cash 1,000 Accounts receivable 1,000\begin{array} { | l | l | l | l | } \hline \text { Cash } & & 1,000 & \\\hline & \text { Accounts receivable } & & 1,000 \\\hline\end{array}
B)
 Salary expense 1,000 Cash 1,000\begin{array} { | l | l | l | l | } \hline \text { Salary expense } & & 1,000 & \\\hline & \text { Cash } & & 1,000 \\\hline\end{array}
C)
 Cash 1,000 Service revenue 1,000\begin{array} { | l | l | l | l | } \hline \text { Cash } & & 1,000 & \\\hline & \text { Service revenue } & & 1,000 \\\hline\end{array}
D) Both A and C are correct.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions