QUESTION 28

1. The one characteristic that all entries recorded in a multi-column purchases journal have in common is a

   		debit to the Accounts Payable account.
   		debit to the Cash account.
   		credit to the Accounts Payable account.
   		credit to the Cash account.

2. QUESTION 32

3. Engler Company purchases a new delivery truck for $55,000. In addition, the sales taxes are $4,000. Engler also paints on the logo of the company on the side of the truck for $1,600. The truck license is an additional $160. The truck also undergoes a one-time safety testing for $290. Finally, the truck also requires a tune up and oil change for $500. What does Engler record as the cost of the new truck?

   		$61,050
   		$61,390
   		$59,000
   		$60,890

4. QUESTION 35

5. If the month-end bank statement shows a balance of $59,000, outstanding checks are $15,000, a deposit of $7,000 was in transit at month end, and a check for $600 was erroneously charged by the bank against the account, the correct balance in the bank account at month end is

   		$51,000.
   		$44,000.
   		$66,400.
   		$51,600.