Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A business pays rent of 4000 by cheque. What are the entries required to record this transaction? Question 19 Not yet answered Select one: Marked

image text in transcribed

A business pays rent of 4000 by cheque. What are the entries required to record this transaction? Question 19 Not yet answered Select one: Marked out of 1.0 O a. Debit Rent Expense 4000 P Flag question Credit Bank 4000 Ob. Debit Bank 4000 Credit Rent Expense 4000 OC. Debit Trade Payables 4000 Credit Rent Expense 4000 Od Debit Rent Expense 4000 Credit Trade Payables 4000 Question 20 A business bought 800 of inventory on credit 30 days ago. It now has to pay the supplier. What are the entries required to record the supplier payement? Not yet answered Marked out of 1.0 Select one: O a Debit Cash 800, Credit Trade Receivables 800 P Flag question O b. Debit Trade Receivables 800, Credit Cash 800 OC. Debit Trade Payables 800, Credit Cash 800 Od Debit Cash 800, Credit Trade Payables 800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Count Down The Past, Present And Uncertain Future Of The Big Four Accounting Firms

Authors: Jim Peterson

2nd Edition

1787147010, 9781787147010

More Books

Students also viewed these Accounting questions

Question

Can negative outcomes associated with redundancy be avoided?

Answered: 1 week ago

Question

Understand the key features of recruitment and selection policies

Answered: 1 week ago