Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A sales journal entry will not balance if we: Select one: a. omit the HST charged on sales b. omit the payment termos c. include

image text in transcribed

image text in transcribed

image text in transcribed

A sales journal entry will not balance if we: Select one: a. omit the HST charged on sales b. omit the payment termos c. include a second sale item in the invoice d. this entry will balance whether we omit or include any of the above items Which of the following statements is true about inventory sales journal entries? Select one: O a. the revenue account number can be edited b. displaying the entry before making changes is a good idea c. a negative quantity must be entered for a sales return d. all of the answers are correct To record a NSF cheque from a customer you could: Select one: a. choose the adjust a receipt tool, select the customer's receipt, change the amount paid to zero and po b.notify the customer and ask for a new cheque so no additional journal entry will be needed O c. choose the adjust a receipt tool, select the customer's receipt, then choose the reverse entry tool d. in the general journal, debit accounts receivable and credit the bank account for the cheque amount

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

Students also viewed these Accounting questions