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X Company prepares monthly financial statements. In March, its accountant recorded entries as follows: made an adjusting entry for $1, 244 of unpaid interest on
X Company prepares monthly financial statements. In March, its accountant recorded entries as follows: made an adjusting entry for $1, 244 of unpaid interest on a bank loan recorded $3, 514 for wages paid made an adjusting entry for $502 of wages that were earned by employees but not paid made an adjusting entry for $1, 400 of insurance that had expired recorded $1, 990 that was received from a customer for merchandise that X Company special ordered and agreed deliver in April. result of these entries, total equities decreased by $1, 746 $1, 902 $2, 924 $3, 514 $4, 670 $6, 904 X Company is a merchandiser and prepares monthly financial statements. On September 6, its accountant made that resulted in a $45,000 increase in the Cash account and a $45,000 decrease in the Accounts Receivable which of the following transactions is consistent with this entry? X Company sold merchandise to customers on account for $45,000. received $45,000 from a new investor. received $45,000 from a customer who bought merchandise with cash. paid $45,000 to a supplier from whom the firm had previously bought merchandise on account. received $45,000 from a customer who had previously bought merchandise on account. borrowed $45,000 from a bank and signed a
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