Beetles Company Recorded the Following Journal Entry on March 2

question 97

Multiple Choice

Beetles Company recorded the following journal entry on March 2, 2016. From the journal entry above, identify the transaction on March 2, 2016.

• A) Beetles purchased goods worth $10,500 and signed a one-year note for the same.
• B) Beetles sold goods for $10,500 cash.
• C) Beetles received $10,500 for services to be performed in a later period.
• D) Beetles paid $10,500 for services to be received at a later date.

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Definitions:

Pronoun Reversal

The incorrect use of pronouns, often observed in early language development or certain language disorders, where an individual might refer to themselves as "you" and others as "I."

AAMR/AAIDD

The American Association on Intellectual and Developmental Disabilities, previously known as the American Association on Mental Retardation, is an organization aimed at enhancing the quality of life for individuals with intellectual and developmental disabilities.

Intellectual Disability

A condition characterized by significant limitations in both intellectual functioning (such as learning, problem-solving, judgment) and in adaptive behavior, which covers a range of everyday social and practical skills, apparent before the age of 18.