Will rate on multiple accounts if all 3 are answered
Question 13) FALL Ltd was established on January 1st, 2020. The following are selected transactions that occurred during the first quarters of 2020 (the company fiscal year-end is December 31). January 26: FALL sold goods on account to TOUT Ltd: $80,000, February 26: FALL Received payment from TOUT: S50,000. March 3: CRIS Ltd visited FALL to discuss the availability of a product and promised to place an order for the product two weeks later for $25,000. March 30: FALL purchased a delivery truck from COSS Ltd for cash: $95,000. In the books of FALL, the journal entry to record the transaction on January 26 would include: a. a credit to account payable for $80,000. b. a debit to property, plant and equipment for $80,000 c. a debit to accounts receivable for $80,000. d. a debit to expense for $80,000. dehit to inventory for $80,000. Question 14) FALL Ltd was established on January 1st, 2020. The following are selected transactions that occurred during the first quarters of 2020 (the company fiscal year-end is December 31). January 26: FALL sold goods on account to TOUT Ltd: $80,000. February 26: FALL Received payment from TOUT: $50,000. March 3: CRIS Ltd visited FALL to discuss the availability of a product and promised to place an order for the product two weeks later for S25,000. March 30: FALL purchased a delivery truck from COSS Ltd for cash: 595,000. In the books of FALL, the journal entry to record the transaction on February 26 would include: O a. a credit to revenue for $50,000. b. a debit to account payable for $50,000. c. a debit to accounts receivable for $50,000. d. a credit to accounts receivable for $50,000. Question 12) An accountant has debited an asset account for $8,000 and credited a liability account for $10,000. What can be done to complete the recording of the transaction? Oa. Nothing further can be done. b. Credit a shareholders' equity account for $8,000. Oc. Debit another asset account for $2,000. d. Credit another asset account for $2,000. Oe. Credit another liability account for $10,000