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Recording a stock issuance in. exchange for cash involves. A) Debiting Cash and crediting Notes Payable B) Debiting Cash and crediting Dividend C) Debiting Cash
Recording a stock issuance in. exchange for cash involves. A) Debiting Cash and crediting Notes Payable B) Debiting Cash and crediting Dividend C) Debiting Cash and crediting Common Stock D) Debiting Common Stock and crediting Cash Paying a previously recorded invoice from a supplier (of supplies) involves. A) Debiting Supplies and crediting Cash B) Debiting Accounts Payable and crediting Cash C) Debiting Supplies and crediting Accounts Payable D) Debiting Cash and crediting Supplies M. Mabrey received $2.500 from a tenant on December 1 for five month's rent of an office. This rent was for December, January, February, March, and April. If Mabrey debited Cash and credited Unearned Rental Income for $2, 500 on December 1, what necessary adjustment would be made on December 31? Unearned Rental Income 2,000 Rental income 2,000 B) Rental Income 500 Unearned Rental Income 500 C) Unearned Rental Income 500 Rental Income 500 D) Rental Income 2,000 Unearned Rental Income 2,000
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