Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Turner family paid $30 on their account for services provided last month. How would you journalize this transaction? a. Credit Accounts Payable, Feed and

The Turner family paid $30 on their account for services provided last month. How would you journalize this transaction?

a. Credit Accounts Payable, Feed and Farm Store $30 on the first line and debit Cash $30 on the second line.

b.Add "received payment" on the third line. Credit Cash $30 on the first line and debit Accounts Receivable, Turner family $30 on the second line. Add "received payment" on the third line.

c.Debit Accounts Receivable, Turner family $30 on the first line and credit Cash $30 on the second line. Add "received payment" on the third line.

d.Debit Cash $30 on the first line and credit Accounts Receivable, Turner family $30 on the second line. Add "received payment" on the third line.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cryptocurrency 101 The Millennials Guide To Understanding And Investing In Crypto

Authors: Candide Ahouandjinou, Jamal Modica

979-8387066771

More Books

Students also viewed these Accounting questions