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15,16 and 17 you need to write the answer. QUESTION 3 debit to Accounts Payable debit to Accounts Receivable credit to cash credit to Accounts
15,16 and 17 you need to write the answer.
QUESTION 3 debit to Accounts Payable debit to Accounts Receivable credit to cash credit to Accounts Payable QUESTION 4 Purchase orders are closed out when checks are written to pay for items received and matched to a specific purchase order a source document that includes details about a sale to a customer who owes you money O cash received by a company for which a sale cannot be recorded because the product has not been delivered. O a source document used to track cash sales, calculate sales tax and totals. QUESTION 1 A sales by item report is a report illustrating sales by month and by customer a report illustrating amounts owed to vendors and by aging period a report listing sales by item for a period a report illustrating income and expense by month QUESTION 2 An invoice is: a report that describes inventory on hand as of a particular date. O a report that describes how much is owed to a company by customers and is organized by date due. O a report that describes how much each vendor is owed as of a particular date. a document used to bill a customer for goods or services QUESTION5 The Vendor Balance Summary report is a report that describes bills received/payments made from/to a particular vendor over a specified period of time. O True False QUESTION 6 A source document that includes details about a sale to a customer who owes you money is a purchase order. True False QUESTION7 What can be used to determine why the Trial Balance does not match your expectations? Create a transaction detail by account report Create a chart of accounts report O Re-enter all data None of the above QUESTION 8 Sales to a customer for which the company allows some time for the invoice to be paid is called: credit terms accounts payable sales on account O purchases on account QUESTION 9 A new product is usually tracked and thus a beginning quantity may be required. A new service is not usually tracked and thus no beginning balance quantity is required True False QUESTION 10 All businesses use account numbers True O False QUESTION 11 A business uses sales receipts: to record sales transactions on a daily basis where payment is received at the same time as a product or service is delivered to record sales transactions where customers are granted credit terms and given some time to pay after a product or service is delivered to record sales that are incomplete None of the above QUESTION 12 Which of the following is true regarding bills in QBO? In QBO, the invoice you receive from a vendor is called a bill. Bills are recorded in QBO to signify the receipt of a product or service and a related liability. O The related liability used to present a bill in QBO is usually accounts receivable. All of the above QUESTION 13 The Customer Balance Summary report is: a report that describes how much the company owes to a vendor and is organized by date due. a report that describes inventory on hand as of a particular date. a report that describes how much each customer owes a company as of a particular date. QUESTION 14 rovided shows within 10 days; otherwise payment is required in full within 30 days O True False QUESTION 15 QUESTION 16 Describe some of the steps that can be taken when setting up a new company in QBO. Give examples of at least 2 steps reviewed in your chapter reading. QUESTION 17 Explain the format and features of a trial balanceStep by Step Solution
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