Use the Five Transactions for Hennigan Company Described Below to Answer

question 20

Multiple Choice

Use the five transactions for Hennigan Company described below to answer the question(s) that follow(s) . Dec 1 Hennigan purchases two new saws on credit at $\$ 375$ each. The saws are added to Hennigan's rental inventory. Payment is due in 30 days.
8 Hennigan accepts advance deposits for to ol Company of $\$ 75$ .
15 Hennigan receives a bill from Farmer's Electric Company for $\$ 150$ . Payment is due in 30 days.
20 Customers are charged $\$ 750$ by Hennigan for tool Company. Payment is due from the customers in 30 days.
31 Hennigan receives $\$ 500$ in payments from the customers that were billed for Company on December 20.
-Refer to the transactions for Hennigan Rentals. Based on the October 15 transaction, Farmer's Electric will record which of the following in its accounting records?

• A) a credit in Accounts Payable for $150.
• B) a credit in Accounts Receivable for $150.
• C) a debit in Accounts Payable for $150.
• D) a debit in Accounts Receivable for $150.

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Definitions:

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Changes or enhancements made to laws, institutions, and societal norms that reduce the influence of religious organizations and beliefs on public and governmental affairs.

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A country located at the crossroads of Europe and Asia, established in 1923 from the remnants of the Ottoman Empire, known for its rich cultural heritage and strategic geopolitical location.

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A social system in which the government assumes responsibility for the wellbeing of its citizens by providing social and economic protections and services.

Political Interest Groups

Organizations that seek to influence government policy and decision-making without seeking formal political office, often by lobbying or campaigning.