If the Individual Subsidiary Ledger Accounts Contained the Following Data:Cadence

question 98

Multiple Choice

If the individual subsidiary ledger accounts contained the following data:Cadence Company, Vendor, $200, credit balanceFranklin Enterprises, Customer, $750, debit balanceMarcelo Construction, Client, $125, debit balancePeyton Supplies, Supplier, $375, credit balance​The accounts receivable (A/R) control account and the accounts payable
(A/P) control account balances would be

• A) A/R, $1,375; A/P, $375
• B) A/R, $525; A/P, $175
• C) A/R, $875; A/P, $575
• D) A/R, $750; A/P, $700

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Definitions:

Arbitrary

Decisions or actions not based on a system, principle, or rule and often appearing random or subject to individual will without restriction.

Future-Oriented

A perspective or approach that focuses on planning, forecasting, and preparing for upcoming changes, challenges, and opportunities.

Career Progression

Career progression involves the advancement or upward movement in one's professional life, through promotions, learning new skills, or changing roles.

Management-By-Objectives

A managerial strategy where employees and managers collaborate to set, monitor, and achieve specific objectives within an organization.