A purchase of supplies on account is recorded in the

general journal

purchases journal

revenue journal

cash payments journal

Which of the following accounts has a normal debit balance?

Sales

Interest Revenue

Merchandise Inventory

Accounts Payable

Which of the following accounts has a normal credit balance?

Merchandise Inventory

Accounts Receivable

Sales

Delivery Expense

Which of the following accounts usually has a debit balance?

Accounts Payable

Merchandise Inventory

Sales

Sales Tax Payable

The inventory costing method that reports the most current prices in ending inventory is

specific identification

LIFO

FIFO

average cost

Sadie White receives an hourly rate of $30, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $300; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the net amount to be paid to White?

$1,143.00

$1,260.00

$1,443.00

$1,000.00