The Transaction to Record Payment for Delivery Equipment That Was

question 70

Multiple Choice

The transaction to record payment for delivery equipment that was purchased on account in the previous month would include

• A) debiting Cash and crediting Accounts Receivable.
• B) debiting Cash and crediting Accounts Payable.
• C) debiting Accounts Payable and crediting Cash.
• D) debiting Delivery Equipment and crediting Cash.

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Definitions:

Letters

Written symbols or characters that are used to create words in an alphabet.

Letterhead

The heading at the top of a sheet of letter paper, usually consisting of a name and an address.

Preprinted Name

a name that is printed in advance on forms or documents, requiring only a signature or additional information to complete.

Phone Number

is a sequence of digits assigned to a phone line that allows for the connection and identification of one phone user to another.