BU$221$ Computerized Accounting Assignment $3$

Provide the correct QuickBooks Type and Detail Type for each of the following accounts.

$\backslash$table$[[$Account$,$Detail type$],[$a$.,$Undeposited Funds,Other Income,Other Miscellaneous Income$],[,$Undeposited Funds,,$],[$b$.,$Prepaid Rent,Expenses,Rent or Lease of Buildings$],[,$Prepaid Rent,,$],[$c$.,$Automobile Expense,Bank,Cash on Hand$],[,$Automobile Expense,,$],[$d$.,$Loan Payable,Bank,Cash on Hand$],[,$Loan Payable,,$],[$e$.,$Visa Credit Card,Expenses,Other Business Expenses$],[,$Visa Credit Card,,$],[$f$.,$Liability Insurance Expense,Other Current Liabilities,Insurance Payable$],[,$Liability Insurance Expense,,$],[$g$.,$Equipment Rental Expense,Expenses,Advertising$/$Promotional$],[,$Equipment Rental Expense,Expenses,$]]$

Briefly explain the difference between a sales receipt and an invoice in QuickBooks.

Briefly explain the difference between recording an expense and recording a bill in QuickBooks.