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The following 6 questions relate to transactions under the accrual method of accounting journal entries: You receive an invoice from a plumbing contractor for $95,000.
The following 6 questions relate to transactions under the accrual method of accounting journal entries: You receive an invoice from a plumbing contractor for $95,000. What is your journal entry? None of the above Debit job expense; credit accounts payable Debit job expense; credit advanced receipts Debit WIP asset; credit liability Question 21 1 pts Purchase a backhoe on credit (invoice due in 30 days) which costs $ 25,000: What is your journal entry? Debit job expense; credit accounts payable Debit job expense; credit advanced receipts Debit equipment; credit accounts payable O None of the above
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