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4 multiple choice questions OD When a customer pays off money owed to business from a previous transaction, i the cash account in the cash

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OD When a customer pays off money owed to business from a previous transaction, i the cash account in the cash receipts journal is debited and the account receivable account in the cash receipts journal is credited the cash account is debited and the acc receivable control is credited, both in the general journal the entries are posted in the Acc Rec sub ledger before any journal entry is made both the cash receipts and sales journal are posted with cash debited and sales credited iji iv h The total value in Account Receivable sub ledger must equal the balance in the i acc pay control account ii acc rec control account the cash account in the general ledger iv sales account in the general ledger The cash payments journal will not include this account in the journal i ii iii iv cash accounts receivable accounts payable merchandise A complete posting from a sales journal includes transferring information to i ii the acc rec sub ledger and acc pay sub ledger the acc pay sub ledger and general ledger the acc rec sub ledger and the general ledger the general ledger only iv

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