SAGE 50 ACCOUNTING

1. How do you process transactions in the Company Module?

1. Enter the data in a Journal (it must have equal debits and credits)
2. View the entry to make sure it is correct
3. When the entry is correct , click the post icon and automatically will be posted
4. All of the above

2. The firms year-end is on December 31, 2024. You received on January 22, 2024 a bank debit memo dated January 20,2024, for service charges on the bank account

1. The session date should be January 22,2024
2. The session date Should be January 20,2024
3. The transaction date should be January 20,2024
4. a and c are correct

3.Which of the following business events does not need a negative amount to record the transaction?

1. A retail sale invoice for a pair of sunglasses was issued for $200.00 plus tax and should have been issued for the correct amount of $150.00 plus tax
2. Write off a customer balance due to the bankruptcy of the customer
3. Record a sale with HST to a customer
4. Record the return of an unopened USB drive by a customer