An (X) Below the "Other Accounts" Column in a Cash

question 49

Multiple Choice

An (x) below the "Other Accounts" column in a cash receipts journal indicates the

• A) total has been posted to the general ledger.
• B) total is not posted to the general ledger.
• C) column has been footed.
• D) column has been cross-footed.

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Definitions:

Compounded Quarterly

Refers to the application of the compound interest rate to an investment or loan on a quarterly basis.

Loan Balance

The remaining amount of money that a borrower must pay on a loan at any given time.

Compounded Semi-annually

Interest calculation method where interest is added to the principal twice a year, increasing subsequent interest calculations.

Loan Payment

The amount of money required to be paid back periodically (usually monthly) on a loan, including both principal and interest.