Ayala Company Showed the Following Balances at the End of Its

question 50

Multiple Choice

Ayala Company showed the following balances at the end of its first year: What did Ayala Company show as total credits on its trial balance?

• A) $24,500
• B) $24,000
• C) $23,500
• D) $25,000

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Definitions:

Oral Contracts

Agreements made through spoken words rather than written documents, which can be legally binding but are often harder to prove.

Voicemail

An electronic system that records and stores voice messages left by callers, when the recipient is unavailable to answer the phone.

Wholesaler

An individual or company that buys goods in large quantities from manufacturers or importers and sells them to retailers or other businesses.

Enforceable Contract

A legal agreement that is valid under the law and can be upheld in court.