3Question

45 (2 points)The journal entry to record the purchase of equipment for a $100 cash down payment and a balance of $400 due in 30 days would include

a

a debit to Equipment for $500, a credit to Cash for $100, and a credit to Accounts Payable for $400.

b

a debit to Equipment for $100 and a credit to Accounts Payable for $400.

c

debit to Equipment for $500 and a credit to Cash for $500.

d

a debit to Equipment for $100 and a credit to Cash for $100.

46 (2 points)Unearned revenues are:

a

Recorded as an asset in the accounting records.

b

Increases to owners' capital.

c

Liabilities created when a customer pays in advance for products or services before the revenue is earned.

d

Revenues that have been earned and received in cash.

e

Revenues that have been earned but not yet collected in cash.

47 (2 points)The document that is an itemized statement of goods prepared by a vendor listing the customer's name, items sold, sales prices, and terms of the sale is the

a

Purchase requisition.

b

Invoice approval.

c

Invoice.

d

Purchase order.

e

Receiving report.