When Revenue Is Earned from Charge Account Sales, the Accountant

question 26

Multiple Choice

When revenue is earned from charge account sales, the accountant:

• A)debits Cash and credits a revenue account.
• B)debits Accounts Receivable and credits a revenue account.
• C)debits a revenue account and credits the capital account.
• D)debits a revenue account and credits Accounts Receivable.

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Definitions:

Jews

A religious and ethnic group originating from the ancient Hebrews of the Middle East, with a rich cultural and religious tradition centered around Judaism.

Receiving Communion

A religious practice in Christianity involving the partaking of bread and wine, symbolizing the body and blood of Jesus Christ.

Rival European Empires

The competitive dynamic between European powers such as Great Britain, France, Spain, and others as they sought to expand their territories and influence through colonization and conquest from the 15th to the 20th centuries.

Indians

Refers to the people native to India or the indigenous peoples of the Americas, depending on the context.