A Business Has the Following Transactions: the Business Is Started

question 134

Multiple Choice

A business has the following transactions: The business is started by receiving $25,000 from the owner. The business purchased $700 of office supplies on account and $2,500 of furniture on account. The business rendered services to various clients totaling $10,000 on account. It paid $5,000 as salaries expense and $6,000 as rent expense. It paid $1,000 to a supplier for the office supplies purchased earlier. It collected $3,000 from one of its clients for services rendered earlier in the month. At the end of the month, all journal entries are posted to the ledger. The Accounts Payable account will appear as:

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Definitions:

Wood

The hard, fibrous structural tissue found in the stems and roots of trees and other woody plants, used as a material for construction, paper, and fuel.

Respiratory Conditions

A category of diseases that affect the lungs and breathing, such as asthma or chronic obstructive pulmonary disease (COPD).

Influenza

A contagious respiratory illness caused by influenza viruses, characterized by symptoms like fever, cough, and muscle aches.