Question 1 Not yet answered Points out of 1.00 P Flag question The entry to record a prepayment to a vendor/supplier would be which of the following: Select one: OA. PAYABLES module: Bank Account XXXX XXXX Accounts Payable - Vendor OB. PAYABLES module: Accounts Payable - Vendor XXXX Bank Account XXXX OC. COMPANY module: Accounts Payable - Vendor XXXX Bank Account XXXX OD. COMPANY module: Bank Account XXXX Accounts Payable - Vendor XXXX Question 2 Not yet answered Points out of 1.00 P Flag question Which of the following items should not be recorded in the PAYABLES module. Select one: OA. Monthly payments by cheque of interest and principal to your parents for a business loan. OB. Bank service charges. OC. Early payment discount received on office supplies purchased 10 days ago. OD. Manufacturing supplies that are being returned for a reduction in the amount owing to supplier. Question 3 Not yet answered Points out of 1.00 P Flag question When recording a cash discount (Wadkins Company Inc.) for paying an invoice early (2/10, net 30) the discount amount is usually based on Select one: OA. The purchase price including HST. OB. The purchase price excluding HST. OC. The purchase price less the discount amount. Question 4 Not yet answered Points out of 1.00 p Flag question Which of the following is true? Select one: OA. If the inventory item column is used for a purchase of goods then it must be used for the payment of goods. OB. If the inventory item column is used for a purchase of goods then it must be used for the return of goods. OC. Sage 50 Accounting will issue a system warning if you try to post a purchase of merchandise without using the inventory item column. OD. All of the above are true. Question 6 Not yet answered Points out of 1.00 P Flag question Prepayments with purchase orders will appear in the cheque log if they are recorded Select one: OA. With the purchase order. OB. Separately as payments after the purchase order is recorded. OC. In the general journal. OD. Any of the above are correct. Question 8 Not yet answered Points out of 1.00 P Flag question An error in recording a purchase to a wrong supplier account should be corrected by Select one: OA. Recording a general journal entry. OB. Recording a Reversing entry and an entry to the correct vendor. OC. Recording in the Sales section of the RECEIVABLES module. OD. Cannot be done, until the month-end has been completed and the new month started