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10) A liability created when a business collects chrom customers in advance of growing services or delivering goods is called: a Notes receivable b. Unearned
10) A liability created when a business collects chrom customers in advance of growing services or delivering goods is called: a Notes receivable b. Unearned revenues C. Capital d. Revenues. 11) The Accounts Receivable account of Nuptials Inc. is shown below. Accounts Receivable 26.000 5.000 3.500 Calculate the ending balance of the account. a. $33,500, debit b. $31,000, debit C. $3,500, credit d. $27,500, debit 12) A business purchased $3,500 of office supplies with cash. Which of the following ledger accounts reflect the posting of this transaction? a. Office Supplies 3,500 Accounts Payable 13,500 b. Office Supplies 13,500 Cash 3,500 c. Office Supplies 13,500 Accounts Payable 3,500 13,500 d. Office Supplies 3,5001
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