Making a Cash Payment to Settle a Debt Would Include

question 70

Multiple Choice

Making a cash payment to settle a debt would include a:

• A) debit to Cash and a credit to Accounts Receivable
• B) debit to Accounts Payable and a credit to Cash
• C) debit to Accounts Payable and a credit to Accounts Receivable
• D) debit to Accounts Receivable and a credit to Cash

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Definitions:

Supreme Court

The highest federal court in the United States, with ultimate appellate jurisdiction over all federal and state court cases that involve a point of constitutional law.

Fourteenth Amendment

An amendment to the U.S. Constitution that grants citizenship to all persons born or naturalized in the United States and ensures equal protection under the law.

Due Process Clause

A legal principle that guarantees fair treatment through the normal judicial system, especially as a citizen's entitlement.

Equal Protection

The principle under the Constitution that requires states to govern impartially, not discriminating between different groups of people.