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During the Current Week, Julissa, (1) Received a Cash Payment

Question 3

Multiple Choice

During the current week, Julissa, (1) received a cash payment for services previously billed to one of her clients. Also, she (2) paid her telephone bill, and (3) bought equipment on credit.
For the three separate transactions, at least one of the journal entries will include a:


A) Credit to Retained Earnings
B) Debit to Notes Payable
C) Debit to Accounts Receivable
D) Credit to Accounts Receivable

Correct Answer:

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