When a Sales Journal's Sales Amount Column Is Totalled at the End

question 78

Multiple Choice

When a Sales Journal's sales amount column is totalled at the end of the month, the totalis:

• A)Debited to Sales and credited to Accounts Receivable.
• B)Debited to Accounts Receivable and credited to Sales.
• C)Debited to Accounts Receivable and credited to Cash.
• D)Debited to Cash and credited to Accounts Receivable.
• E)Debited to Cash and credited to Sales.

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Definitions:

Fair Credit Billing Act

A federal law designed to protect consumers from unfair billing practices, offering mechanisms to dispute billing errors.

Credit Card Issuer

The financial institution or company that provides credit cards to consumers, extending credit for their purchases.

Disputed Amount

A specific sum of money that is the subject of a disagreement between parties, often related to billing or contractual obligations.

Section 5

Could refer to a specific part of a law or statute, needing further context to accurately define; generally, it's used to denote a particular subsection of legal documentation.