If bankcard fees are automatically deducted from the checking account of a business, how will the bookkeeper journalize the fee?

		a. Capital account is increased by the amount of the fee.
		B. Cash account is increased by the amount of the fee.
		C. Bankcard fees expense is increased by the amount of the fee and cash is decreased.
		D. Cash discount is increased by the amount of the fee and bankcard fees expense is decreased.

A business transaction that involves a purchase on account is considered to be a/an:

		A. cash transaction.
		B. credit transaction.
		C. investment of the owner.
		D. expense transaction.

A liability resulting from the purchase of goods or services on credit is usually recorded as:

		A. an account receivable.
		B. an account payable.
		C. a revenue.
		D. a reduction of equity.

A form prepared by a business for a sales return or allowance on a charge sale is a:

		A. purchases discount.
		B. sales return.
		C.credit memorandum.
		D. debit memorandum.