The Following Transaction Has Been Recorded in the General Journal $$\begin{array} { | l | r | r | } \hline \text { Accourts Payable } & 1,200 & \\\hline \text { Cash } & & 1,200 \\\hline\end{array}$$

question 15

Multiple Choice

The following transaction has been recorded in the general journal entry:
$$\begin{array} { | l | r | r | } \hline \text { Accourts Payable } & 1,200 & \\\hline \text { Cash } & & 1,200 \\\hline\end{array}$$
Which of the following could be an explanation for this transaction?

• A) Provided services on account.
• B) Paid cash to settle accounts payable.
• C) Collected cash from customers.
• D) Borrowed money to support operating activities.

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Definitions:

Contract Clause

A provision included in a contract that specifies the obligations, rights, or restrictions for the parties involved.

Restitution

The act of restoring or returning something to its rightful owner or compensating for loss, damage, or injury caused.

Architect's Breach

A violation or failure by an architect to fulfill contractual duties or meet professional standards, resulting in harm or loss.

Immediately Hire

The urgent employment of an individual or personnel without typical delays.