A Company Has Recorded $25,000 in Debits to a Particular

question 11

Multiple Choice

A company has recorded $25,000 in debits to a particular account, and has also recorded $14,000 of credits to that account. The account balance is

• A) $11,000 debit
• B) $14,000 credit
• C) $25,000 debit
• D) $39,000 debit

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Definitions:

Discount Date

The specified date when a payment is to be made earlier than the due date at a reduced amount, as a motivation for early payment.

Due Date

The specific date by which a task, payment, or assignment is to be completed or submitted.

Remittance

The process of sending money in payment or as a gift.

Discount Period

The time frame during which a discount is offered or can be availed of.